HC Wainwright Reaffirms “Buy” Rating for Eyenovia (NASDAQ:EYEN)

Eyenovia (NASDAQ:EYEN)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $12.00 target price on the stock.

Separately, William Blair raised Eyenovia to a “strong-buy” rating in a research note on Friday, August 30th.

Eyenovia Price Performance

EYEN stock opened at $0.34 on Wednesday. The company has a market capitalization of $21.79 million, a PE ratio of -0.47 and a beta of 1.75. The company’s fifty day moving average price is $0.50 and its 200-day moving average price is $0.71. Eyenovia has a one year low of $0.33 and a one year high of $2.57. The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.27 and a current ratio of 0.46.

Eyenovia (NASDAQ:EYEN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, beating 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 1,197.12%. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. On average, equities analysts anticipate that Eyenovia will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael M. Rowe bought 50,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $0.57 per share, with a total value of $28,500.00. Following the transaction, the chief executive officer now owns 82,927 shares in the company, valued at $47,268.39. This trade represents a 151.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.10% of the company’s stock.

Institutional Trading of Eyenovia

A number of institutional investors have recently bought and sold shares of EYEN. Nations Financial Group Inc. IA ADV raised its stake in shares of 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 acquiring an additional 10,000 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Eyenovia in the 2nd quarter worth about $26,000. Ground Swell Capital LLC bought a new stake in Eyenovia in the second quarter worth about $27,000. Financial Management Network Inc. purchased a new position in shares of Eyenovia during the third quarter valued at approximately $39,000. Finally, SkyView Investment Advisors LLC purchased a new position in shares of Eyenovia during the second quarter valued at approximately $87,000. 25.84% of the stock is currently owned by 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.