Second Sight Medical Products, Inc. (NASDAQ:EYES) received a $5.00 target price from research analysts at HC Wainwright in a report released on Tuesday. The brokerage currently has a “buy” rating on the medical device company’s stock. HC Wainwright’s price objective indicates a potential upside of 362.96% from the company’s previous close.

Separately, Zacks Investment Research upgraded shares of Second Sight Medical Products from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a research note on Wednesday, May 10th.

Second Sight Medical Products (EYES) opened at 1.08 on Tuesday. The firm’s market capitalization is $61.34 million. The company’s 50-day moving average price is $1.16 and its 200-day moving average price is $1.28. Second Sight Medical Products has a 1-year low of $0.90 and a 1-year high of $3.60.

Second Sight Medical Products (NASDAQ:EYES) last released its quarterly earnings data on Tuesday, August 1st. The medical device company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.01. Second Sight Medical Products had a negative net margin of 646.89% and a negative return on equity of 168.49%. The firm had revenue of $2.24 million for the quarter, compared to the consensus estimate of $1.43 million. During the same period last year, the firm earned ($0.17) earnings per share. The company’s quarterly revenue was up 124.0% on a year-over-year basis. Equities research analysts expect that Second Sight Medical Products will post ($0.55) earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Second Sight Medical Products by 0.7% in the second quarter. Vanguard Group Inc. now owns 843,462 shares of the medical device company’s stock worth $1,062,000 after buying an additional 5,973 shares in the last quarter. Van Den Berg Management I Inc. increased its position in Second Sight Medical Products by 27.2% in the first quarter. Van Den Berg Management I Inc. now owns 243,679 shares of the medical device company’s stock worth $295,000 after buying an additional 52,102 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Second Sight Medical Products by 980,566.2% in the first quarter. BNP Paribas Arbitrage SA now owns 696,273 shares of the medical device company’s stock worth $258,000 after buying an additional 696,202 shares in the last quarter. Finally, Carl Domino Inc increased its position in Second Sight Medical Products by 27.5% in the first quarter. Carl Domino Inc now owns 112,719 shares of the medical device company’s stock worth $136,000 after buying an additional 24,308 shares in the last quarter. Hedge funds and other institutional investors own 13.07% of the company’s stock.

Second Sight Medical Products Company Profile

Second Sight Medical Products, Inc is engaged in developing, manufacturing and marketing prosthetic devices that restore vision to blind individuals. The Company’s product, the Argus II System, treats outer retinal degenerations, such as retinitis pigmentosa (RP). The Argus II System provides an artificial form of vision that differs from the vision of people with normal sight.

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