Eyenovia (NASDAQ:EYEN) Lowered to “Neutral” Rating by HC Wainwright

Eyenovia (NASDAQ:EYEN) was downgraded by research analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. They presently have a $2.00 target price on the stock, down from their prior 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.

EYEN has been the topic of a number of other research reports. William Blair reiterated a “market perform” rating on shares of Eyenovia in a research note on Friday. Brookline Capital Management reiterated a “hold” rating on shares of Eyenovia in a research report on Friday.

Eyenovia Stock Performance

Shares of NASDAQ:EYEN opened at $0.10 on Monday. The company has a market capitalization of $6.53 million, a price-to-earnings ratio of -0.14 and a beta of 1.75. Eyenovia has a 12 month low of $0.09 and a 12 month high of $2.57. The firm’s 50-day moving average is $0.49 and its 200 day moving average is $0.71. 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 released its quarterly earnings data 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 net margin of 114,639.41% and a negative return on equity of 1,108.24%. During the same quarter in the prior year, the firm earned ($0.18) EPS. Research analysts predict that Eyenovia will post -0.5 EPS for the current year.

Insider Buying and Selling

In related news, CEO Michael M. Rowe bought 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average cost of $0.57 per share, with a total value of $28,500.00. Following the transaction, the chief executive officer now directly owns 82,927 shares of the company’s stock, valued at approximately $47,268.39. This represents a 151.85 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.10% of the stock is owned by insiders.

Institutional Trading of Eyenovia

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in shares of Eyenovia by 1,444.4% in the 1st 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. Vanguard Group Inc. grew its holdings in shares of Eyenovia by 25.2% during the first 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 in the last quarter. Armistice Capital LLC purchased a new stake in shares of Eyenovia during the second quarter worth about $3,601,000. Ground Swell Capital LLC purchased a new stake in shares of Eyenovia during the second quarter worth about $27,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Eyenovia in the second quarter worth approximately $26,000. Institutional investors and hedge funds 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.