Eyenovia (EYEN) Q3 2019 Earnings Prep

in EARNINGS/INVESTING IDEAS by

Eyenovia, Inc. is a nano-cap stock with a market capitalization of $45.659 million and a total enterprise value of $36.419 million. The company operates in the Healthcare sector and Pharmaceuticals industry. The clinical-stage company develops treatments for eye diseases aiming to transform the way glaucoma, dry eyes, allergic eye disease, and many other eye diseases are treated.

The company recently announced it would be advancing the development of its MicroLine program. The MicroLine program for the improvement in near vision in patients with presbyopia towards Phase III development

Eyenovia, Inc. (NASDAQCM:EYEN) is scheduled to report Q3 earnings results on November 13, 2019 after trading hours. The company is expected to report earnings of -$0.35/share. The consensus earnings per share (EPS) of -$0.35/share is based on a poll of 3 analysts. For the same quarter last year, the company reported earnings of -$0.43/share.

The company is pre-revenue.

Expected to report EPS of -$0.35/share for Q3, 2019
Metric Expected Prior Year YoY Change
Revenue $0.00 $0.00
EPS -$0.35 -$0.43 NM

Earnings Call Trends

Historically, management has exceeded analyst expectations 2 out of the last 7 tracked quarters, and missed expectations 5 quarters.

Analyst Expected vs Reported EPS
Quarter Expected Reported Surprise Result
Q2, 2019 -$0.47 -$0.44 NM Beat
Q1, 2019 -$0.49 -$0.50 NM Missed
Q4, 2018 -$0.45 -$0.60 NM Missed
Q3, 2018 -$0.42 -$0.43 NM Missed
Q2, 2018 -$0.39 -$0.33 NM Beat
Q1, 2018 -$0.39 -$0.45 NM Missed
Q4, 2017 -$0.34 -$0.84 NM Missed

In the following table, we summarize the company’s stock price movements after earnings releases. The “Price Day Prior” column shows the closing stock price on the day before the earnings report, and the “Price Next Day” column shows the stock price at the end of the trading day after the earnings report. After the last earnings report for the period ending June 30, 2019, the stock price did not react much to the update.

Stock Price Performance After Earnings
Report Date Price Day Prior Price Next Day Change % Result
2019-08-12 $3.34 $3.34 0.0% No Change
2019-05-14 $5.89 $5.11 -13.2% Decline
2019-03-27 $5.30 $5.78 9.1% Increase
2018-11-13 $3.12 $3.09 -1.0% Decline

Fundamentals And Technical Analysis

Eyenovia is currently trading at $2.81/share, up 5.1% for the day. The company is trading at approximately 40.2% of its 52 week high of $6.98/share. The company’s stock price is down -16.0% since the last earnings report and down -11.3% over the previous week. The company’s 14 Day Relative Price Index (RSI) of 34.12 suggests the company is trading in technically neutral territory. The RSI is considered overbought when above 70 and oversold when below 30.

The current share price implies a price-to-earnings (P/E) multiple of -2.1x and a forward P/E multiple of -2.0x.

Eyenovia’s current share price also implies a price-to-book (P/B) multiple of 6.0x. The following table summarizes some other key fundamental ratios:

Data as of November 13, 2019
Metric Value
Last Fiscal Period FY2019.Q2
Period End Date June 30, 2019
Stock Price (Current) $2.81
P/E Ratio -2.1x
P/E Ratio (Fwd) -2.0x
PEG Ratio -0.5
Total Debt to Capital (%) 0.0%
Levered Free Cash Flow -$18.748 million
Enterprise Value / EBITDA -1.7x

Company Profile: Eyenovia, Inc.

Eyenovia, Inc., a clinical stage ophthalmic biopharmaceutical company, engages in developing a pipeline of microdose therapeutics in the United States. It is developing MicroProst, which is in Phase III clinical trials for the treatment of chronic angle closure glaucoma, open angle glaucoma, and ocular hypertension; MicroStat, which has completed Phase III clinical trials for the treatment of mydriasis; MicroTears for the treatment of hyperemia, pruritis, and dry eye; and MicroPine for the treatment of progressive myopia.

The company was formerly known as PGP Holdings V, Inc. and changed its name to Eyenovia, Inc. in May 2014. Eyenovia, Inc. was founded in 2014 and is based in New York, New York.

Expertise: financial modeling, mergers & acquisitions. Andy is also a founder at finbox.io, where he’s focused on building tools that make it faster and easier for investors to do investment research. Andy’s background is in investment banking where he led the analysis on over 50 board advisory engagements involving mergers and acquisitions, fairness opinions and solvency opinions. Some of his board advisory highlights: - Sears Holdings Corp.’s $620 mm spin-off via rights offering of Sears Outlet, Hometown Stores and Sears Hardware Stores. - Cerberus Capital Management’s $3.3 bn acquisition of SUPERVALU Inc.’s New Albertsons, Inc. assets. Andy can be reached at andy@finbox.io or at +1 (516) 778-6257.

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