Second Sight Medical Products, Inc. (EYES) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Second Sight Medical Products, Inc. (NASDAQ:EYES) from a sell rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “Second Sight Medical Products, Inc. is a medical device company. It develops, manufactures, and markets implantable prosthetic devices to restore some functional vision to blind patients. The Company provides Argus II system, an implantable neurostimulation device for the treatment of outer retinal degenerations, such as retinitis pigmentosa. Second Sight Medical Products, Inc. is headquartered in Sylmar, California. “

Separately, HC Wainwright set a $5.00 target price on Second Sight Medical Products and gave the company a buy rating in a research report on Tuesday, August 29th.

Shares of Second Sight Medical Products (NASDAQ EYES) opened at 1.165 on Tuesday. The stock has a 50 day moving average price of $1.14 and a 200 day moving average price of $1.18. The stock’s market capitalization is $66.17 million. Second Sight Medical Products has a one year low of $0.90 and a one year high of $3.51.

Second Sight Medical Products (NASDAQ:EYES) last released its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. The firm had revenue of $2.24 million for the quarter, compared to analyst estimates of $1.43 million. Second Sight Medical Products had a negative net margin of 646.89% and a negative return on equity of 168.49%. The business’s revenue for the quarter was up 124.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) EPS. Equities analysts forecast that Second Sight Medical Products will post ($0.55) earnings per share for the current year.

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An institutional investor recently raised its position in Second Sight Medical Products stock. BNP Paribas Arbitrage SA lifted its stake in shares of Second Sight Medical Products, Inc. (NASDAQ:EYES) by 980,566.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 696,273 shares of the medical device company’s stock after acquiring an additional 696,202 shares during the quarter. BNP Paribas Arbitrage SA owned 1.24% of Second Sight Medical Products worth $258,000 as of its most recent filing with the Securities and Exchange Commission. 13.07% of the stock is currently owned by institutional investors.

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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