Eyenovia (NASDAQ:EYEN) Upgraded at Zacks Investment Research

Eyenovia (NASDAQ:EYENGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Zacks.com reports. The brokerage presently has a $2.25 price target on the stock. Zacks Investment Research‘s price target points to a potential upside of 4.65% from the company’s current price.

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. “

Shares of NASDAQ:EYEN traded up $0.13 during mid-day trading on Monday, hitting $2.15. The company had a trading volume of 67,190 shares, compared to its average volume of 108,567. The firm has a fifty day moving average price of $2.60 and a 200 day moving average price of $3.13. The company has a market capitalization of $72.17 million, a PE ratio of -3.98 and a beta of 2.08. Eyenovia has a one year low of $1.83 and a one year high of $6.63.

Eyenovia (NASDAQ:EYENGet Rating) last released its quarterly earnings data on Monday, March 28th. The company reported $0.10 earnings per share for the quarter. The company had revenue of $10.00 million during the quarter. During the same period in the prior year, the company earned ($0.17) EPS. On average, equities research analysts predict that Eyenovia will post -0.82 earnings per share for the current year.

In other news, major shareholder Stuart M. Grant acquired 38,800 shares of the business’s stock in a transaction on Thursday, April 21st. The shares were purchased at an average cost of $2.59 per share, with a total value of $100,492.00. Following the acquisition, the insider now directly owns 4,865,924 shares of the company’s stock, valued at $12,602,743.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Stuart M. Grant acquired 42,000 shares of the business’s stock in a transaction on Tuesday, February 22nd. The shares were purchased at an average cost of $2.75 per share, for a total transaction of $115,500.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 165,874 shares of company stock valued at $396,089 in the last 90 days. 20.00% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp boosted its holdings in Eyenovia by 9.3% during the 1st quarter. State Street Corp now owns 61,617 shares of the company’s stock worth $188,000 after acquiring an additional 5,217 shares during the last quarter. Hexagon Capital Partners LLC purchased a new position in shares of Eyenovia in the 1st quarter worth about $30,000. Marshall Wace LLP purchased a new position in shares of Eyenovia in the 4th quarter worth about $216,000. LPL Financial LLC purchased a new position in shares of Eyenovia in the 4th quarter worth about $42,000. Finally, AMH Equity Ltd purchased a new position in shares of Eyenovia in the 4th quarter worth about $400,000. 23.36% of the stock is currently owned by hedge funds and other institutional investors.

About Eyenovia (Get Rating)

Eyenovia, Inc, a clinical stage ophthalmic company, engages in developing therapeutics based on its proprietary microdose array print platform technology. The company focuses on developing clinical microdosing of formulations of ophthalmic pharmaceutical agents using its Optejet branded targeted ocular delivery system.

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