Eyenovia (NASDAQ:EYEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage currently has a $2.75 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 19.57% from the stock’s previous close.
According to Zacks, “Eyenovia, Inc. is a clinical stage biopharmaceutical company which engages in developing therapeutics for the treatment of prominent eye diseases primarily in the United States. Its product portfolio includes MicroProst, MicroStat, MicroTears and MicroPine which are in clinical stage. Eyenovia, Inc. is based in New York. “
A number of other equities research analysts have also recently commented on EYEN. Roth Capital restated a “buy” rating on shares of Eyenovia in a report on Sunday, January 26th. ValuEngine cut shares of Eyenovia from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Oppenheimer cut shares of Eyenovia from an “outperform” rating to a “market perform” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.92.
EYEN opened at $2.30 on Wednesday. Eyenovia has a twelve month low of $1.11 and a twelve month high of $6.98. The company has a fifty day moving average of $3.55 and a 200-day moving average of $3.70. The stock has a market cap of $38.80 million, a PE ratio of -1.26 and a beta of 1.49.
Eyenovia (NASDAQ:EYEN) last posted its quarterly earnings data on Wednesday, March 25th. The company reported ($0.31) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.02. On average, equities research analysts anticipate that Eyenovia will post -1.51 EPS for the current fiscal year.
In other Eyenovia news, CEO Tsontcho Ianchulev acquired 82,431 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were purchased at an average cost of $2.27 per share, with a total value of $187,118.37. Following the completion of the purchase, the chief executive officer now owns 508,679 shares of the company’s stock, valued at $1,154,701.33. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Stuart M. Grant acquired 903,240 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was acquired at an average cost of $2.06 per share, for a total transaction of $1,860,674.40. The disclosure for this purchase can be found here. Company insiders own 43.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in EYEN. Fairpointe Capital LLC lifted its stake in shares of Eyenovia by 25.1% in the third quarter. Fairpointe Capital LLC now owns 224,526 shares of the company’s stock valued at $831,000 after buying an additional 45,000 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Eyenovia in the fourth quarter valued at $47,000. Finally, National Asset Management Inc. bought a new position in shares of Eyenovia in the fourth quarter valued at $50,000. 7.13% of the stock is currently owned by hedge funds and other institutional investors.
Eyenovia, Inc, a clinical stage biopharmaceutical company, engages in developing a pipeline of ophthalmology products in the United States. It is developing MicroProst, which is in Phase III clinical trials for the treatment of chronic angle closure glaucoma; MicroStat, which is in Phase III clinical trials for the treatment of mydriasis; MicroTears for the treatment of dry eye; and MicroPine for the treatment of myopia.
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