Eyenovia (EYEN) Downgraded 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 note issued to investors on Tuesday.
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. “
Separately, HC Wainwright initiated coverage on Eyenovia in a research report on Tuesday, October 9th. They issued a “buy” rating and a $12.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Eyenovia has an average rating of “Buy” and a consensus price target of $18.31.
Eyenovia (NASDAQ:EYEN) last announced its quarterly earnings data on Tuesday, August 14th. The company reported ($0.33) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.09. On average, equities analysts forecast that Eyenovia will post -1.73 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Fairpointe Capital LLC acquired a new position in shares of Eyenovia in the 2nd quarter valued at $313,000. Highbridge Capital Management LLC acquired a new position in shares of Eyenovia in the 1st quarter valued at $1,373,000. Finally, Millennium Management LLC acquired a new position in shares of Eyenovia in the 1st quarter valued at $2,525,000. 12.28% of the stock is currently owned by institutional investors.
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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