Eyenovia (NASDAQ:EYEN) Cut to Neutral at HC Wainwright

HC Wainwright lowered shares of Eyenovia (NASDAQ:EYEN) from a buy rating to a neutral rating in a research report sent to investors on Monday, Marketbeat Ratings reports. The brokerage currently has $2.00 target price on the stock, down from their previous target price of $12.00. HC Wainwright also issued estimates for Eyenovia’s Q4 2024 earnings at ($0.09) EPS, Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.52) EPS, FY2024 earnings at ($0.51) EPS, FY2025 earnings at ($0.48) EPS, FY2025 earnings at ($0.46) EPS, FY2026 earnings at ($0.36) EPS, FY2026 earnings at ($0.31) EPS, FY2027 earnings at $0.14 EPS, FY2027 earnings at ($0.16) EPS, FY2028 earnings at $0.05 EPS and FY2028 earnings at $0.56 EPS.

Several other analysts have also recently commented on EYEN. William Blair restated a “market perform” rating on shares of Eyenovia in a research note on Friday, November 15th. Brookline Capital Management reissued a “hold” rating on shares of Eyenovia in a research note on Friday, November 15th.

Eyenovia Trading Up 13.7 %

NASDAQ:EYEN opened at $0.11 on Monday. Eyenovia has a 1 year low of $0.08 and a 1 year high of $2.57. The stock has a market cap of $6.73 million, a P/E ratio of -0.14 and a beta of 1.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.55 and a current ratio of 0.74. The stock has a 50-day simple moving average of $0.46 and a 200-day simple moving average of $0.69.

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 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 in the prior year, the firm earned ($0.18) earnings per share. As a group, analysts anticipate that Eyenovia will post -0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael M. Rowe acquired 50,000 shares of Eyenovia stock in a transaction that occurred on Monday, August 26th. The stock was purchased 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 owns 82,927 shares in the company, valued at $47,268.39. This trade represents a 151.85 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EYEN. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Eyenovia in the 2nd quarter worth about $26,000. Ground Swell Capital LLC purchased a new stake in shares of Eyenovia in the second quarter valued at about $27,000. Nations Financial Group Inc. IA ADV grew its position in shares of Eyenovia by 24.4% in the second quarter. Nations Financial Group Inc. IA ADV now owns 50,900 shares of the company’s stock valued at $30,000 after purchasing an additional 10,000 shares during the last quarter. Financial Management Network Inc. purchased a new position in shares of Eyenovia during the 3rd quarter worth approximately $39,000. Finally, SkyView Investment Advisors LLC acquired a new position 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.

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.