Eyenovia (NASDAQ:EYEN) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Eyenovia (NASDAQ:EYEN) from a hold rating to a sell rating in a report published on Friday, 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 equities research analysts also recently commented on EYEN. Roth Capital reduced their price target on shares of Eyenovia from $14.00 to $11.00 and set a buy rating for the company in a research report on Wednesday, October 14th. HC Wainwright restated a buy rating and issued a $6.00 price target (down previously from $7.00) on shares of Eyenovia in a research report on Friday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Eyenovia has a consensus rating of Hold and an average target price of $9.94.

EYEN stock opened at $6.06 on Friday. Eyenovia has a 52 week low of $1.11 and a 52 week high of $6.92. The company has a market capitalization of $150.80 million, a price-to-earnings ratio of -5.51 and a beta of 2.09. The firm’s 50-day moving average is $4.23 and its two-hundred day moving average is $3.61. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02.

Eyenovia (NASDAQ:EYEN) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.05). On average, equities research analysts predict that Eyenovia will post -0.99 earnings per share for the current year.

In other Eyenovia news, major shareholder Stuart M. Grant purchased 100,000 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were acquired at an average price of $3.55 per share, for a total transaction of $355,000.00. Following the acquisition, the insider now owns 4,169,748 shares of the company’s stock, valued at $14,802,605.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 23.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in EYEN. Shone Asset Management LLC bought a new position in Eyenovia in the 3rd quarter worth $69,000. BlackRock Inc. grew its position in Eyenovia by 11.9% in the 3rd 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 last quarter. National Asset Management Inc. acquired a new stake in shares of Eyenovia during the 3rd quarter valued at about $41,000. Finally, Virtu Financial LLC acquired a new stake in shares of Eyenovia during the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 6.32% 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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