Eyenovia (EYEN) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Eyenovia (NASDAQ:EYEN) from a hold rating to a sell rating in a report published on Friday morning, 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. “

Other research analysts have also issued reports about the company. HC Wainwright set a $14.00 target price on Eyenovia and gave the stock a buy rating in a research report on Tuesday, February 26th. Oppenheimer assumed coverage on Eyenovia in a research report on Wednesday, April 24th. They issued an outperform rating and a $9.00 target price on the stock.

Shares of Eyenovia stock opened at $4.90 on Friday. Eyenovia has a fifty-two week low of $2.40 and a fifty-two week high of $8.96. The firm has a market cap of $62.26 million, a price-to-earnings ratio of -2.69 and a beta of 1.68.

Eyenovia (NASDAQ:EYEN) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.01. As a group, sell-side analysts expect that Eyenovia will post -1.8 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of EYEN. Bank of New York Mellon Corp purchased a new position in shares of Eyenovia in the 4th quarter worth $36,000. BlackRock Inc. raised its position in shares of Eyenovia by 1,689.6% in the 1st quarter. BlackRock Inc. now owns 16,500 shares of the company’s stock worth $99,000 after buying an additional 15,578 shares during the period. Northern Trust Corp purchased a new position in shares of Eyenovia in the 1st quarter worth $118,000. Vanguard Group Inc purchased a new position in shares of Eyenovia in the 3rd quarter worth $157,000. Finally, Vanguard Group Inc. purchased a new position in shares of Eyenovia in the 3rd quarter worth $157,000. 9.17% 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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