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

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

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

Eyenovia Price Performance

Eyenovia stock opened at $0.42 on Wednesday. The business has a fifty day moving average price of $0.50 and a 200-day moving average price of $0.72. The firm has a market capitalization of $26.90 million, a P/E ratio of -0.56 and a beta of 1.75. The company has a debt-to-equity ratio of 3.72, a current ratio of 0.46 and a quick ratio of 0.27. Eyenovia has a one year low of $0.37 and a one year high of $2.57.

Eyenovia (NASDAQ:EYEN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Eyenovia had a negative return on equity of 1,197.12% and a negative net margin of 114,639.41%. During the same quarter in the previous year, the firm earned ($0.18) EPS. As a group, equities research analysts forecast that Eyenovia will post -0.56 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael M. Rowe purchased 50,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $0.57 per share, for a total transaction of $28,500.00. Following the acquisition, the chief executive officer now directly owns 82,927 shares of the company’s stock, valued at $47,268.39. This represents a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eyenovia

Several hedge funds have recently made changes to their positions in EYEN. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Eyenovia during the second quarter valued at about $26,000. Ground Swell Capital LLC purchased a new stake in shares of Eyenovia in the 2nd quarter worth about $27,000. Nations Financial Group Inc. IA ADV increased its stake in shares of Eyenovia by 24.4% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 50,900 shares of the company’s stock worth $30,000 after acquiring an additional 10,000 shares in the last quarter. Financial Management Network Inc. purchased a new stake in Eyenovia in the third quarter worth about $39,000. Finally, SkyView Investment Advisors LLC bought a new position in shares of Eyenovia during the second 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.