Eyenovia (NASDAQ:EYEN) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Eyenovia (NASDAQ:EYEN) from a hold rating to a buy rating in a research note published on Tuesday, ValuEngine reports.

Other equities analysts have also issued reports about the stock. HC Wainwright restated a buy rating and set a $10.00 price target on shares of Eyenovia in a research report on Friday, November 15th. Zacks Investment Research upgraded shares of Eyenovia from a hold rating to a buy rating and set a $3.75 price objective for the company in a report on Friday, August 16th.

EYEN traded down $0.16 on Tuesday, hitting $3.55. 750 shares of the company’s stock were exchanged, compared to its average volume of 137,545. Eyenovia has a fifty-two week low of $2.40 and a fifty-two week high of $6.98. The stock has a market cap of $58.21 million, a price-to-earnings ratio of -1.96 and a beta of 1.42. The firm has a 50-day moving average price of $3.21 and a 200-day moving average price of $3.74.

Eyenovia (NASDAQ:EYEN) last issued its earnings results on Wednesday, November 13th. The company reported ($0.29) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.05. As a group, equities research analysts forecast that Eyenovia will post -1.52 EPS for the current fiscal year.

In other news, major shareholder Stuart M. Grant purchased 15,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were purchased at an average price of $3.14 per share, with a total value of $47,100.00. Following the transaction, the insider now owns 2,226,183 shares in the company, valued at approximately $6,990,214.62. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Stuart M. Grant purchased 25,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $2.85 per share, for a total transaction of $71,250.00. Following the transaction, the insider now owns 2,226,183 shares in the company, valued at approximately $6,344,621.55. The disclosure for this purchase can be found here. Insiders bought 99,897 shares of company stock valued at $305,253 over the last 90 days. Company insiders own 43.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Fairpointe Capital LLC raised its stake in Eyenovia by 25.1% during the third quarter. Fairpointe Capital LLC now owns 224,526 shares of the company’s stock worth $831,000 after purchasing an additional 45,000 shares during the period. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 58,697 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. boosted its holdings in 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 purchasing an additional 99,896 shares during the last quarter. Hedge funds and other institutional investors own 8.44% of the company’s stock.

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.

Featured Story: How Does the Quiet Period Work?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Eyenovia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eyenovia and related companies with MarketBeat.com's FREE daily email newsletter.