William Blair Reaffirms “Market Perform” Rating for Eyenovia (NASDAQ:EYEN)

William Blair reaffirmed their market perform rating on shares of Eyenovia (NASDAQ:EYEN) in a report published on Friday morning,Benzinga reports. William Blair also issued estimates for Eyenovia’s Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.08) EPS and FY2025 earnings at ($0.37) EPS.

Separately, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Eyenovia in a research note on Wednesday, November 13th.

Eyenovia Stock Up 8.9 %

Shares of EYEN opened at $0.11 on Friday. The stock has a market capitalization of $7.11 million, a PE ratio of -0.15 and a beta of 1.75. Eyenovia has a 1 year low of $0.09 and a 1 year high of $2.57. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.27 and a current ratio of 0.74. The company’s 50-day simple moving average is $0.48 and its 200-day simple moving average is $0.70.

Eyenovia (NASDAQ:EYEN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the firm earned ($0.18) EPS. Analysts forecast that Eyenovia will post -0.5 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 business’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average cost of $0.57 per share, for a total transaction of $28,500.00. Following the completion of the purchase, the chief executive officer now owns 82,927 shares of the company’s stock, valued at approximately $47,268.39. This represents a 151.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Eyenovia

Several hedge funds have recently added to or reduced their stakes in EYEN. Point72 Asia Singapore Pte. Ltd. purchased a new position in Eyenovia in the second quarter valued at approximately $26,000. Ground Swell Capital LLC purchased a new position in Eyenovia in the second quarter valued at approximately $27,000. Nations Financial Group Inc. IA ADV increased its stake in Eyenovia by 24.4% in the second quarter. Nations Financial Group Inc. IA ADV now owns 50,900 shares of the company’s stock valued at $30,000 after purchasing an additional 10,000 shares during the last quarter. Financial Management Network Inc. purchased a new position in Eyenovia in the third quarter valued at approximately $39,000. Finally, SkyView Investment Advisors LLC purchased a new position in Eyenovia in the second quarter valued at approximately $87,000. 25.84% of the stock is currently owned by hedge funds and other institutional investors.

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.