Eyenovia (NASDAQ:EYEN) Rating Increased to Hold at Zacks Investment Research

Eyenovia (NASDAQ:EYEN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

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. “

Several other research analysts have also recently weighed in on EYEN. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective (down previously from $7.00) on shares of Eyenovia in a research report on Friday, October 23rd. Roth Capital lowered their price target on shares of Eyenovia from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, October 14th.

Eyenovia stock opened at $6.18 on Tuesday. The company’s 50-day moving average price is $6.18 and its two-hundred day moving average price is $4.23. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.02. The stock has a market cap of $153.78 million, a P/E ratio of -5.62 and a beta of 2.27. Eyenovia has a twelve month low of $1.11 and a twelve month high of $7.25.

Eyenovia (NASDAQ:EYEN) last posted its earnings results on Tuesday, November 10th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.05). Equities analysts anticipate that Eyenovia will post -0.99 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. National Asset Management Inc. acquired a new position in Eyenovia in the 3rd quarter valued at $41,000. Virtu Financial LLC bought a new position in shares of Eyenovia in the third quarter worth $51,000. Shone Asset Management LLC acquired a new position in Eyenovia in the third quarter valued at about $69,000. Golden Green Inc. bought a new stake in Eyenovia during the fourth quarter worth about $122,000. Finally, BlackRock Inc. lifted its position in Eyenovia by 11.9% during the third quarter. BlackRock Inc. now owns 49,255 shares of the company’s stock worth $153,000 after purchasing an additional 5,257 shares during the period. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Eyenovia Company Profile

Eyenovia, Inc, a clinical stage ophthalmic biopharmaceutical company, engages in developing a pipeline of microdose therapeutics utilizing its patented piezo-print delivery technology, branded the Optejet. It focuses on achieving clinical microdosing of next-generation formulations of ophthalmic pharmaceutical agents using its ocular delivery system, which has the potential to replace conventional eye dropper delivery and improve safety, tolerability, patient compliance, and topical delivery success for ophthalmic eye treatments.

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