HC Wainwright Has Negative View of Eyenovia FY2024 Earnings

Eyenovia, Inc. (NASDAQ:EYEN) – Investment analysts at HC Wainwright dropped their FY2024 earnings per share (EPS) estimates for shares of Eyenovia in a research note issued to investors on Monday, November 18th. HC Wainwright analyst M. Caufield now expects that the company will post earnings per share of ($0.52) for the year, down from their prior estimate of ($0.51). HC Wainwright currently has a “Neutral” rating and a $2.00 price target on the stock. The consensus estimate for Eyenovia’s current full-year earnings is ($0.50) per share. HC Wainwright also issued estimates for Eyenovia’s Q4 2024 earnings at ($0.10) EPS, FY2025 earnings at ($0.46) EPS, FY2026 earnings at ($0.36) EPS, FY2027 earnings at ($0.16) EPS and FY2028 earnings at $0.05 EPS.

A number of other equities research analysts have also recently weighed in on EYEN. Brookline Capital Management reiterated a “hold” rating on shares of Eyenovia in a research note on Friday, November 15th. LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Eyenovia in a research note on Monday. Finally, William Blair reissued a “market perform” rating on shares of Eyenovia in a report on Friday, November 15th.

Eyenovia Price Performance

EYEN stock opened at $0.09 on Wednesday. The business has a 50 day moving average price of $0.46 and a 200 day moving average price of $0.69. The stock has a market cap of $5.92 million, a price-to-earnings ratio of -0.13 and a beta of 1.75. Eyenovia has a fifty-two week low of $0.08 and a fifty-two week high of $2.57. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.58.

Eyenovia (NASDAQ:EYEN) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Eyenovia had a negative return on equity of 1,108.24% and a negative net margin of 114,639.41%. During the same period in the prior year, the company posted ($0.18) earnings per share.

Insider Buying and Selling at Eyenovia

In other Eyenovia news, CEO Michael M. Rowe bought 50,000 shares of Eyenovia 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 completion of the transaction, the chief executive officer now owns 82,927 shares of the company’s stock, valued at $47,268.39. This represents a 151.85 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eyenovia

A number of large investors have recently modified their holdings of the company. Nations Financial Group Inc. IA ADV grew its stake in Eyenovia by 24.4% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 50,900 shares of the company’s stock valued at $30,000 after purchasing an additional 10,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Eyenovia during the 2nd quarter worth approximately $26,000. Ground Swell Capital LLC bought a new position in Eyenovia during the 2nd quarter worth approximately $27,000. Financial Management Network Inc. bought a new position in Eyenovia during the 3rd quarter worth approximately $39,000. Finally, SkyView Investment Advisors LLC bought a new stake in shares of Eyenovia in the 2nd quarter worth approximately $87,000. 25.84% of the stock is currently owned by hedge funds and other institutional investors.

Eyenovia Company Profile

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.