Second Sight Medical Products (EYES) Gets a Buy Rating from H.C. Wainwright

H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Second Sight Medical Products (EYESResearch Report) today and set a price target of $2.50. The company’s shares closed yesterday at $0.78, close to its 52-week low of $0.64.

Dayal said:

“We are projecting Second Sight’s revenues to increase from $4.1M in 2019 to $230.1M in 2027, growing at an eight-year CAGR of approximately 65.1%. We are expecting operating expenses to grow modestly from $35.2M in 2019 to $43.8M in 2027, growing at an eight- year CAGR of approximately 2.8%.”

According to TipRanks.com, Dayal is a 4-star analyst with an average return of 3.8% and a 45.0% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Advanced Emissions Solutions, Inc., Ballard Power Systems, and Orion Energy Systems.

Currently, the analyst consensus on Second Sight Medical Products is a Moderate Buy with an average price target of $2.50.

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Based on Second Sight Medical Products’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $9.7 million. In comparison, last year the company had a GAAP net loss of $7.96 million.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock.

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Second Sight Medical Products, Inc. engages in the development, manufacture, and marketing of implantable visual prosthetics. Its product, the Argus II Retinal Prosthesis System, treats outer retinal degenerations, such as retinitis pigmentosa, also referred to as RP. The company was founded by Alfred E. Mann, Aaron Mendelsohn, Sam Williams, Robert J. Greenberg, and Gunnar Bjorg in 1998 and is headquartered in Sylmar, CA.