Eyegate Pharmaceuticals Inc (EYEG) Announces Quarterly Earnings Results

Eyegate Pharmaceuticals Inc (NASDAQ:EYEG) released its earnings results on Monday. The specialty pharmaceutical company reported ($0.39) earnings per share for the quarter, meeting the consensus estimate of ($0.39). The firm had revenue of $0.19 million during the quarter, compared to analyst estimates of $0.22 million.

In related news, Director Morton Goldberg sold 8,919 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $26,757.00. Following the transaction, the director now directly owns 9,441 shares in the company, valued at $28,323. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 26.50% of the company’s stock.

An institutional investor recently raised its position in Eyegate Pharmaceuticals stock. Vanguard Group Inc. boosted its stake in shares of Eyegate Pharmaceuticals Inc (NASDAQ:EYEG) by 96.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 245,331 shares of the specialty pharmaceutical company’s stock after buying an additional 120,184 shares during the period. Vanguard Group Inc. owned about 2.40% of Eyegate Pharmaceuticals worth $626,000 at the end of the most recent reporting period. 6.43% of the stock is currently owned by hedge funds and other institutional investors.

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Separately, Noble Financial reaffirmed a “buy” rating on shares of Eyegate Pharmaceuticals in a research report on Friday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Eyegate Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $9.00.

About Eyegate Pharmaceuticals

Eyegate Pharmaceuticals, Inc is a clinical-stage specialty pharmaceutical company. The Company is focused on developing and commercializing therapeutics and drug delivery systems for treating diseases of the eye. The Company’s lead product, EGP-437, incorporates a reformulated topically active corticosteroid, dexamethasone phosphate, which is delivered into the ocular tissues through its drug delivery system, the EyeGate II Delivery System.

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