Brokerages Set $20.67 Target Price for Eyenovia Inc (EYEN)

Eyenovia Inc (NASDAQ:EYEN) has earned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus price target of $20.67 for the company and are forecasting that the company will post ($0.44) EPS for the current quarter, according to Zacks. Zacks has also assigned Eyenovia an industry rank of 59 out of 256 based on the ratings given to related companies.

Several research firms have recently weighed in on EYEN. HC Wainwright began coverage on shares of Eyenovia in a research report on Tuesday, October 9th. They issued a “buy” rating and a $12.00 target price for the company. Zacks Investment Research downgraded shares of Eyenovia from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, ValuEngine raised shares of Eyenovia from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc bought a new stake in shares of Eyenovia during the 3rd quarter valued at about $157,000. Vanguard Group Inc. bought a new stake in shares of Eyenovia during the 3rd quarter valued at about $157,000. Fairpointe Capital LLC bought a new stake in shares of Eyenovia during the 2nd quarter valued at about $313,000. Finally, Uniplan Investment Counsel Inc. grew its position in shares of Eyenovia by 11.8% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 385,624 shares of the company’s stock valued at $1,550,000 after buying an additional 40,624 shares during the last quarter. 12.28% of the stock is owned by institutional investors.

EYEN opened at $2.85 on Friday. The stock has a market capitalization of $29.51 million and a PE ratio of -1.30. Eyenovia has a 1-year low of $2.40 and a 1-year high of $10.74.

Eyenovia (NASDAQ:EYEN) last released its earnings results on Tuesday, November 13th. The company reported ($0.43) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.43). On average, equities research analysts forecast that Eyenovia will post -1.65 earnings per share for the current fiscal year.

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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