Eyenovia (NASDAQ:EYEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The brokerage presently has a $3.75 price target on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 20.58% from the company’s current price.
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 brokerages also recently weighed in on EYEN. Oppenheimer began coverage on shares of Eyenovia in a research report on Wednesday, April 24th. They set an “outperform” rating and a $9.00 price objective for the company. HC Wainwright set a $14.00 price objective on shares of Eyenovia and gave the company a “buy” rating in a research report on Wednesday, June 5th. Finally, ValuEngine raised shares of Eyenovia from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.
Shares of NASDAQ:EYEN traded down $0.21 during trading on Friday, reaching $3.11. 52,987 shares of the company’s stock traded hands, compared to its average volume of 163,047. Eyenovia has a 12 month low of $2.40 and a 12 month high of $6.98. The company has a 50 day moving average of $3.41 and a 200-day moving average of $4.87. The stock has a market capitalization of $51.14 million, a P/E ratio of -1.71 and a beta of 1.11.
Eyenovia (NASDAQ:EYEN) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.03. On average, research analysts anticipate that Eyenovia will post -1.8 EPS for the current year.
In other news, CEO Tsontcho Ianchulev bought 233,813 shares of Eyenovia stock in a transaction on Thursday, July 11th. The stock was purchased at an average cost of $2.78 per share, with a total value of $650,000.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Curt H. Labelle bought 17,985 shares of Eyenovia stock in a transaction on Thursday, July 11th. The shares were purchased at an average cost of $2.78 per share, with a total value of $49,998.30. The disclosure for this purchase can be found here. 43.10% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Eyenovia stock. Vanguard Group Inc. raised its position in shares of Eyenovia Inc (NASDAQ:EYEN) by 72.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,748 shares of the company’s stock after purchasing an additional 58,697 shares during the period. Vanguard Group Inc. owned 0.85% of Eyenovia worth $601,000 at the end of the most recent quarter. 7.88% of the stock is owned by institutional investors.
Eyenovia Company Profile
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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