H.C. Wainwright analyst Yi Chen reiterated a Buy rating on Eyenovia Inc (EYEN) today and set a price target of $14. The company’s shares closed yesterday at $5.05.
Chen wrote:
“Our price target is derived from a market value of the firm at $250M, which includes a discounted cash flow-based asset value for all four micro-dosing products, with a 15% discount rate and 1% terminal growth rate, and assuming 17.6M shares outstanding at the end of 1Q20. Probabilities of success assigned are 80%, 80%, 55% and 45% for MicroPine, respectively.”
According to TipRanks.com, Chen is ranked #5056 out of 5173 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eyenovia Inc with a $11.50 average price target.
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The company has a one-year high of $8.49 and a one-year low of $2.40. Currently, Eyenovia Inc has an average volume of 61.5K.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EYEN in relation to earlier this year.
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Eyenovia, Inc. is a clinical stage biopharmaceutical company, which engages in the research and development of ophthalmology products. The company offers a piezo-print technology to deliver micro-doses of micro-therapeutics for the eyes. Its products include MicroProst, MicroStat, MicroTears, and MicroPine.
