The Second Sight Medical Products Inc. (EYES) Given $16.00 Consensus Price Target by Analysts

The Second Sight Medical Products Inc. (EYES) Given $16.00 Consensus Price Target by Analysts

Shares of Second Sight Medical Products Inc. (NASDAQ:EYES) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price objective of $16.00 for the company and are anticipating that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also assigned Second Sight Medical Products an industry rank of 153 out of 265 based on the ratings given to its competitors.

EYES has been the topic of a number of analyst reports. Rodman & Renshaw restated a “buy” rating and set a $16.00 target price on shares of Second Sight Medical Products in a research report on Tuesday, July 26th. Zacks Investment Research upgraded shares of Second Sight Medical Products from a “sell” rating to a “hold” rating in a research report on Friday, June 24th.

Second Sight Medical Products (NASDAQ:EYES) opened at 3.03 on Monday. The company has a 50-day moving average of $3.32 and a 200 day moving average of $3.99. The company’s market cap is $127.86 million. Second Sight Medical Products has a 52-week low of $2.90 and a 52-week high of $8.48.

Second Sight Medical Products (NASDAQ:EYES) last released its quarterly earnings results on Thursday, July 28th. The medical device company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. The company earned $1.04 million during the quarter, compared to the consensus estimate of $2.66 million. Second Sight Medical Products had a negative net margin of 366.25% and a negative return on equity of 103.44%. The firm’s revenue was down 63.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) earnings per share. Equities research analysts predict that Second Sight Medical Products will post ($0.62) EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in EYES. Vanguard Group Inc. raised its stake in Second Sight Medical Products by 38.3% in the second quarter. Vanguard Group Inc. now owns 476,890 shares of the medical device company’s stock valued at $1,707,000 after buying an additional 132,103 shares in the last quarter. Harvest Capital Strategies LLC raised its stake in Second Sight Medical Products by 759.1% in the first quarter. Harvest Capital Strategies LLC now owns 382,281 shares of the medical device company’s stock valued at $1,846,000 after buying an additional 337,783 shares in the last quarter. BlackRock Fund Advisors raised its stake in Second Sight Medical Products by 16.5% in the second quarter. BlackRock Fund Advisors now owns 356,344 shares of the medical device company’s stock valued at $1,276,000 after buying an additional 50,376 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Second Sight Medical Products by 16.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 352,058 shares of the medical device company’s stock valued at $1,260,000 after buying an additional 50,092 shares in the last quarter. Finally, State Street Corp raised its stake in Second Sight Medical Products by 18.2% in the second quarter. State Street Corp now owns 211,197 shares of the medical device company’s stock valued at $756,000 after buying an additional 32,554 shares in the last quarter. Hedge funds and other institutional investors own 6.88% of the company’s stock.

Second Sight Medical Products Company Profile

Second Sight Medical Products, Inc is engaged in developing, manufacturing and marketing prosthetic devices that restore vision to blind individuals. The Company’s product, the Argus II System, treats outer retinal degenerations, such as retinitis pigmentosa (RP). The Argus II System provides an artificial form of vision that differs from the vision of people with normal sight.

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