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

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

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

Eyenovia Trading Down 16.5 %

Shares of EYEN opened at $0.34 on Wednesday. The firm has a market capitalization of $21.79 million, a price-to-earnings ratio of -0.47 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 1-year low of $0.33 and a 1-year high of $2.57. The company has a 50-day moving average of $0.50 and a 200 day moving average of $0.71.

Eyenovia (NASDAQ:EYEN) last posted 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 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 earned ($0.18) earnings per share. On average, research analysts expect that Eyenovia will post -0.56 EPS for the current year.

Insider Buying and Selling at Eyenovia

In related news, CEO Michael M. Rowe bought 50,000 shares of the stock in a transaction on 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 completion of the acquisition, the chief executive officer now directly owns 82,927 shares in the company, valued at approximately $47,268.39. This represents a 151.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake in Eyenovia by 1,444.4% in 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 during the last quarter. Vanguard Group Inc. raised its stake in shares of Eyenovia by 25.2% during the 1st quarter. Vanguard Group Inc. now owns 1,790,501 shares of the company’s stock worth $1,765,000 after acquiring an additional 360,924 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its position in Eyenovia by 24.4% during 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 last quarter. Ground Swell Capital LLC acquired a new stake in Eyenovia in the second quarter valued at approximately $27,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Eyenovia in the second quarter worth $26,000. 25.84% of the stock is 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.