HC Wainwright Downgrades Eyenovia (NASDAQ:EYEN) to Neutral

Eyenovia (NASDAQ:EYEN) was downgraded by stock analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research note issued on Monday, Marketbeat.com reports. They currently have a $2.00 target price on the stock, down from their previous target price of $12.00. HC Wainwright also issued estimates for Eyenovia’s Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.51) EPS, FY2025 earnings at ($0.48) EPS, FY2026 earnings at ($0.31) EPS, FY2027 earnings at $0.14 EPS and FY2028 earnings at $0.56 EPS.

Several other equities research analysts have also weighed in on the company. William Blair reissued a “market perform” rating on shares of Eyenovia in a research note on Friday, November 15th. Brookline Capital Management reissued a “hold” rating on shares of Eyenovia in a research note on Friday, November 15th.

Eyenovia Stock Performance

Shares of NASDAQ EYEN opened at $0.12 on Monday. The stock has a fifty day moving average price of $0.47 and a two-hundred day moving average price of $0.70. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.55 and a current ratio of 0.74. The firm 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 issued its quarterly earnings results 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 return on equity of 1,108.24% and a negative net margin of 114,639.41%. During the same quarter last year, the company posted ($0.18) earnings per share. Research analysts forecast that Eyenovia will post -0.5 EPS for the current fiscal year.

Insider Transactions at Eyenovia

In other Eyenovia news, CEO Michael M. Rowe purchased 50,000 shares of the stock in a transaction dated Monday, August 26th. The shares were acquired at an average price of $0.57 per share, for a total transaction of $28,500.00. Following the completion of the acquisition, the chief executive officer now owns 82,927 shares of the company’s stock, valued at $47,268.39. This represents a 151.85 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EYEN. Armistice Capital LLC acquired a new stake in Eyenovia during the second quarter valued at $3,601,000. Vanguard Group Inc. boosted its position in Eyenovia by 25.2% during the first quarter. Vanguard Group Inc. now owns 1,790,501 shares of the company’s stock valued at $1,765,000 after purchasing an additional 360,924 shares during the last quarter. Geode Capital Management LLC boosted its position in Eyenovia by 36.6% during 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. BNP Paribas Financial Markets boosted its position in Eyenovia by 1,444.4% during the first quarter. BNP Paribas Financial Markets now owns 219,610 shares of the company’s stock valued at $217,000 after purchasing an additional 205,390 shares during the last quarter. Finally, SkyView Investment Advisors LLC acquired a new stake in Eyenovia during the second quarter valued at $87,000. Hedge funds and other institutional investors own 25.84% of the company’s stock.

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.