William Blair Analysts Raise Earnings Estimates for Eyenovia

Eyenovia, Inc. (NASDAQ:EYEN) – Investment analysts at William Blair boosted their FY2024 earnings per share (EPS) estimates for Eyenovia in a note issued to investors on Wednesday, November 13th. William Blair analyst L. Hanbury-Brown now forecasts that the company will earn ($0.47) per share for the year, up from their previous forecast of ($0.53). William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Eyenovia’s current full-year earnings is ($0.50) per share. William Blair also issued estimates for Eyenovia’s Q4 2024 earnings at ($0.08) 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.

Other research analysts also recently issued reports about the stock. HC Wainwright downgraded shares of Eyenovia from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $12.00 to $2.00 in a report on Monday. Brookline Capital Management reaffirmed a “hold” rating on shares of Eyenovia in a report on Friday. Finally, LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Eyenovia in a research report on Monday.

Eyenovia Trading Up 8.9 %

NASDAQ:EYEN opened at $0.11 on Monday. The firm’s 50 day moving average is $0.48 and its 200 day moving average is $0.70. Eyenovia has a 12 month low of $0.09 and a 12 month high of $2.57. The stock has a market capitalization of $7.11 million, a PE ratio of -0.15 and a beta of 1.75. The company has a current ratio of 0.74, a quick ratio of 0.27 and a debt-to-equity ratio of 0.58.

Eyenovia (NASDAQ:EYEN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) 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 in the prior year, the business earned ($0.18) earnings per share.

Insider Buying and Selling at Eyenovia

In related news, CEO Michael M. Rowe acquired 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were bought at an average cost of $0.57 per share, for a total transaction of $28,500.00. Following the completion of the transaction, the chief executive officer now owns 82,927 shares in the company, valued at approximately $47,268.39. This trade represents a 151.85 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Eyenovia

Several hedge funds have recently added to or reduced their stakes in EYEN. Armistice Capital LLC purchased a new position in Eyenovia in the 2nd quarter worth $3,601,000. Vanguard Group Inc. grew its position in shares of Eyenovia by 25.2% in the 1st quarter. Vanguard Group Inc. now owns 1,790,501 shares of the company’s stock worth $1,765,000 after buying an additional 360,924 shares during the period. BNP Paribas Financial Markets increased its stake in shares of 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 in the last quarter. Geode Capital Management LLC increased its position in Eyenovia by 36.6% during the 3rd quarter. Geode Capital Management LLC now owns 557,994 shares of the company’s stock valued at $288,000 after buying an additional 149,471 shares in the last quarter. Finally, SkyView Investment Advisors LLC purchased a new position in Eyenovia during the second quarter valued at $87,000. Institutional investors own 25.84% of the company’s stock.

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.