Eyenovia (NASDAQ:EYEN) Lowered to “Hold” at Zacks Investment Research

Eyenovia (NASDAQ:EYEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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 brokerages have also issued reports on EYEN. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Eyenovia in a report on Friday, November 15th. ValuEngine upgraded Eyenovia from a “hold” rating to a “buy” rating in a report on Tuesday.

Shares of Eyenovia stock opened at $3.54 on Tuesday. The firm has a market cap of $58.21 million, a price-to-earnings ratio of -1.95 and a beta of 1.42. Eyenovia has a 52-week low of $2.40 and a 52-week high of $6.98. The stock has a 50-day simple moving average of $3.20 and a 200-day simple moving average of $3.75.

Eyenovia (NASDAQ:EYEN) last announced its quarterly earnings results on Wednesday, November 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.05. On average, equities research analysts predict that Eyenovia will post -1.52 EPS for the current year.

In related news, major shareholder Stuart M. Grant acquired 29,945 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $2.70 per share, with a total value of $80,851.50. Following the purchase, the insider now owns 2,226,183 shares of the company’s stock, valued at $6,010,694.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Stuart M. Grant acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was bought at an average cost of $3.14 per share, for a total transaction of $47,100.00. Following the completion of the purchase, the insider now directly owns 2,226,183 shares in the company, valued at approximately $6,990,214.62. The disclosure for this purchase can be found here. Insiders purchased a total of 99,897 shares of company stock worth $305,253 over the last three months. 43.10% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. Fairpointe Capital LLC raised its stake in shares of Eyenovia by 25.1% in the 3rd quarter. Fairpointe Capital LLC now owns 224,526 shares of the company’s stock valued at $831,000 after acquiring an additional 45,000 shares in the last quarter. Uniplan Investment Counsel Inc. raised its stake in shares of Eyenovia by 22.4% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 544,896 shares of the company’s stock valued at $2,343,000 after acquiring an additional 99,896 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Eyenovia by 72.4% in the 2nd quarter. Vanguard Group Inc. now owns 139,748 shares of the company’s stock valued at $601,000 after acquiring an additional 58,697 shares in the last quarter. 8.44% of the stock is currently owned by institutional investors and hedge funds.

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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