Eyenovia (EYEN) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Eyenovia (NASDAQ:EYEN) from a buy rating to a hold rating in a research note released on Tuesday morning.

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 started coverage on shares of Eyenovia in a report on Tuesday, October 9th. They issued a buy rating and a $12.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Eyenovia currently has an average rating of Buy and an average price target of $18.31.

Shares of Eyenovia stock opened at $3.78 on Tuesday. Eyenovia has a 52-week low of $2.94 and a 52-week high of $10.74.

Eyenovia (NASDAQ:EYEN) last announced its quarterly earnings results on Tuesday, August 14th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.09. Sell-side analysts expect that Eyenovia will post -1.67 EPS for the current year.

A number of institutional investors have recently made changes to their positions in EYEN. Millennium Management LLC bought a new stake in Eyenovia in the 1st quarter valued at $2,525,000. Highbridge Capital Management LLC bought a new stake in Eyenovia in the 1st quarter valued at $1,373,000. Finally, Fairpointe Capital LLC bought a new stake in Eyenovia in the 2nd quarter valued at $313,000. 12.28% of the stock is currently owned by hedge funds and other institutional investors.

About Eyenovia

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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