Eyenovia’s (EYEN) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Eyenovia (NASDAQ:EYEN) in a report issued on Wednesday,Benzinga reports. HC Wainwright currently has a $12.00 price objective on the stock.

Separately, William Blair upgraded shares of Eyenovia to a “strong-buy” rating in a research report on Friday, August 30th.

Eyenovia Stock Up 3.1 %

Shares of NASDAQ EYEN opened at $0.42 on Wednesday. The company has a current ratio of 0.46, a quick ratio of 0.27 and a debt-to-equity ratio of 3.72. Eyenovia has a 12 month low of $0.37 and a 12 month high of $2.57. The company has a market cap of $26.90 million, a price-to-earnings ratio of -0.56 and a beta of 1.75. The stock has a 50-day moving average price of $0.50 and a two-hundred day moving average price of $0.72.

Eyenovia (NASDAQ:EYEN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) 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 1,197.12%. During the same period last year, the firm posted ($0.18) earnings per share. As a group, analysts forecast that Eyenovia will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael M. Rowe bought 50,000 shares of the stock in a transaction dated Monday, August 26th. The shares were bought at an average cost of $0.57 per share, with a total value of $28,500.00. Following the completion of the transaction, the chief executive officer now directly owns 82,927 shares of the company’s stock, valued at $47,268.39. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Eyenovia

A number of institutional investors and hedge funds have recently bought and sold shares of EYEN. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Eyenovia by 78.6% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 90,900 shares of the company’s stock worth $47,000 after buying an additional 40,000 shares during the last quarter. Financial Management Network Inc. purchased a new position in shares of Eyenovia during the 3rd quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Eyenovia during the 2nd quarter worth $26,000. SkyView Investment Advisors LLC purchased a new stake in Eyenovia in the 2nd quarter worth about $87,000. Finally, Armistice Capital LLC bought a new stake in Eyenovia in the 2nd quarter valued at about $3,601,000. 25.84% of the stock is owned by hedge funds and other institutional investors.

Eyenovia Company Profile

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.