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

HC Wainwright reiterated their buy rating on shares of Eyenovia (NASDAQ:EYEN) in a research note published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $12.00 price objective on the stock. 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.

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

Eyenovia Stock Down 70.0 %

EYEN opened at $0.10 on Wednesday. Eyenovia has a fifty-two week low of $0.09 and a fifty-two week high of $2.57. The firm has a market capitalization of $6.53 million, a P/E ratio of -0.14 and a beta of 1.75. The company’s 50-day moving average is $0.49 and its 200 day moving average is $0.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.74 and a quick ratio of 0.27.

Eyenovia (NASDAQ:EYEN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) 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 company posted ($0.18) EPS. Research analysts expect that Eyenovia will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Eyenovia

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

Institutional Trading of Eyenovia

Large investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Eyenovia during the 2nd quarter worth $26,000. Ground Swell Capital LLC bought a new position in Eyenovia during the second quarter worth about $27,000. Nations Financial Group Inc. IA ADV increased 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 worth $30,000 after purchasing an additional 10,000 shares in the last quarter. Financial Management Network Inc. bought a new stake in shares of Eyenovia in the third quarter valued at approximately $39,000. Finally, SkyView Investment Advisors LLC purchased a new stake in shares of Eyenovia during the 2nd quarter valued at approximately $87,000. 25.84% of the stock is 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.