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

HC Wainwright downgraded shares of Eyenovia (NASDAQ:EYEN) from a buy rating to a neutral rating in a report released on Monday, MarketBeat reports. They currently have $2.00 price target on the stock, down from their prior price target 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.

A number of other equities analysts have also recently issued reports on the company. Brookline Capital Management reiterated a “hold” rating on shares of Eyenovia in a report on Friday. William Blair restated a “market perform” rating on shares of Eyenovia in a report on Friday.

Eyenovia Trading Up 8.9 %

Shares of EYEN stock opened at $0.11 on Monday. Eyenovia has a fifty-two week low of $0.09 and a fifty-two week high of $2.57. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.27 and a current ratio of 0.74. The stock has a 50 day simple moving average of $0.48 and a two-hundred day simple moving average of $0.70. The company has a market cap of $7.11 million, a P/E ratio of -0.15 and a beta of 1.75.

Eyenovia (NASDAQ:EYEN) last released its quarterly earnings data 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 1,108.24%. During the same period last year, the company posted ($0.18) earnings per share. Research analysts forecast that Eyenovia will post -0.5 earnings per share for the current year.

Insider Activity at Eyenovia

In other Eyenovia news, CEO Michael M. Rowe bought 50,000 shares of Eyenovia stock in a transaction dated Monday, August 26th. The stock was bought at an average cost of $0.57 per share, with a total value 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. The trade was a 151.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Armistice Capital LLC bought a new stake in shares of Eyenovia during the 2nd quarter worth $3,601,000. Vanguard Group Inc. raised its position in Eyenovia by 25.2% in the first 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 during the period. BNP Paribas Financial Markets boosted 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 acquiring an additional 205,390 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 acquiring an additional 149,471 shares during the period. Finally, SkyView Investment Advisors LLC purchased a new stake in shares of Eyenovia during the 2nd quarter worth approximately $87,000. Hedge funds and other 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.