HC Wainwright Predicts Increased Earnings for Eyenovia

Eyenovia, Inc. (NASDAQ:EYEN) – Research analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for shares of Eyenovia in a report released on Wednesday, November 13th. HC Wainwright analyst M. Caufield now forecasts that the company will post earnings per share of ($0.51) for the year, up from their prior estimate of ($0.67). HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Eyenovia’s current full-year earnings is ($0.56) per share. HC Wainwright also issued estimates for Eyenovia’s Q4 2024 earnings at ($0.09) EPS, FY2025 earnings at ($0.48) EPS, FY2026 earnings at ($0.31) EPS, FY2027 earnings at $0.14 EPS and FY2028 earnings at $0.56 EPS.

Other equities analysts have also recently issued research reports about the stock. William Blair restated a “market perform” rating on shares of Eyenovia in a research report on Friday. Brookline Capital Management reissued a “hold” rating on shares of Eyenovia in a research report on Friday.

Eyenovia Stock Performance

Shares of EYEN opened at $0.10 on Friday. The stock has a 50-day simple moving average of $0.49 and a 200-day simple moving average of $0.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.27 and a current ratio of 0.74. Eyenovia has a 1 year low of $0.09 and a 1 year high of $2.57. The stock has a market capitalization of $6.53 million, a PE ratio of -0.14 and a beta of 1.75.

Eyenovia (NASDAQ:EYEN) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Eyenovia had a negative net margin of 114,639.41% and a negative return on equity of 1,108.24%. During the same quarter last year, the business earned ($0.18) earnings per share.

Hedge Funds Weigh In On Eyenovia

Hedge funds have recently modified their holdings of the company. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Eyenovia by 78.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 90,900 shares of the company’s stock valued at $47,000 after purchasing an additional 40,000 shares in the last quarter. Financial Management Network Inc. acquired a new position in Eyenovia during the third quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Eyenovia in the 2nd quarter worth about $26,000. SkyView Investment Advisors LLC acquired a new stake in Eyenovia during the 2nd quarter worth about $87,000. Finally, Armistice Capital LLC purchased a new position in Eyenovia during the 2nd quarter valued at about $3,601,000. 25.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael M. Rowe acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average cost of $0.57 per share, for a total transaction of $28,500.00. Following the transaction, the chief executive officer now directly owns 82,927 shares in the company, valued at $47,268.39. This trade represents a 151.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.10% of the company’s stock.

About Eyenovia

Eyenovia, Inc, an ophthalmic technology company, engages in the development of therapeutics based on its proprietary microdose array print platform technology. The company's product candidates include MicroPine, which is in Phase III clinical development program with indications for pediatric myopia progression (near-sightedness); MicroLine, which is in Phase III clinical development program with indications for the improvement in near vision in people with presbyopia; and Mydcombi, which is in Phase III clinical development program with indications for pharmaceutical mydriasis.