HC Wainwright Issues Negative Forecast for Eyenovia Earnings

Eyenovia, Inc. (NASDAQ:EYEN) – Analysts at HC Wainwright decreased their FY2024 earnings per share estimates for Eyenovia in a research report issued on Monday, November 18th. HC Wainwright analyst M. Caufield now forecasts that the company will post earnings per share of ($0.52) for the year, down from their prior forecast of ($0.51). HC Wainwright currently has a “Neutral” rating and a $2.00 target price on the stock. The consensus estimate for Eyenovia’s current full-year earnings is ($0.50) per share. HC Wainwright also issued estimates for Eyenovia’s Q4 2024 earnings at ($0.10) EPS, FY2025 earnings at ($0.46) EPS, FY2026 earnings at ($0.36) EPS, FY2027 earnings at ($0.16) EPS and FY2028 earnings at $0.05 EPS.

EYEN has been the subject of several other research reports. William Blair restated a “market perform” rating on shares of Eyenovia in a research note on Friday, November 15th. LADENBURG THALM/SH SH reissued a “neutral” rating on shares of Eyenovia in a report on Monday. Finally, Brookline Capital Management reaffirmed a “hold” rating on shares of Eyenovia in a report on Friday, November 15th.

Eyenovia Stock Up 7.4 %

EYEN stock opened at $0.12 on Wednesday. The stock’s fifty day simple moving average is $0.47 and its two-hundred day simple moving average is $0.70. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.58. The stock has a market cap of $7.64 million, a P/E ratio of -0.16 and a beta of 1.75. Eyenovia has a 1-year low of $0.09 and a 1-year high of $2.57.

Eyenovia (NASDAQ:EYEN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Eyenovia had a negative net margin of 114,639.41% and a negative return on equity of 1,108.24%. During the same quarter last year, the company earned ($0.18) EPS.

Insider Buying and Selling at Eyenovia

In related news, CEO Michael M. Rowe bought 50,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average cost of $0.57 per share, with a total value of $28,500.00. Following the completion of the purchase, the chief executive officer now directly owns 82,927 shares of the company’s stock, valued at $47,268.39. This trade represents a 151.85 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Armistice Capital LLC purchased a new position in shares of Eyenovia during the second quarter worth approximately $3,601,000. Vanguard Group Inc. increased its holdings in shares of Eyenovia by 25.2% in the first quarter. Vanguard Group Inc. now owns 1,790,501 shares of the company’s stock worth $1,765,000 after buying an additional 360,924 shares during the period. BNP Paribas Financial Markets grew its position in Eyenovia by 1,444.4% during the 1st quarter. BNP Paribas Financial Markets now owns 219,610 shares of the company’s stock worth $217,000 after acquiring an additional 205,390 shares during the last quarter. Geode Capital Management LLC lifted its position in Eyenovia by 36.6% in the third quarter. Geode Capital Management LLC now owns 557,994 shares of the company’s stock valued at $288,000 after purchasing an additional 149,471 shares during the last quarter. Finally, SkyView Investment Advisors LLC bought a new stake in Eyenovia during the 2nd quarter valued at $87,000. Institutional investors own 25.84% of the company’s stock.

About Eyenovia

Eyenovia, Inc, an ophthalmic technology company, engages in the development of therapeutics based on its proprietary microdose array print platform technology. The company's product candidates include MicroPine, which is in Phase III clinical development program with indications for pediatric myopia progression (near-sightedness); MicroLine, which is in Phase III clinical development program with indications for the improvement in near vision in people with presbyopia; and Mydcombi, which is in Phase III clinical development program with indications for pharmaceutical mydriasis.