H.C. Wainwright Reiterates Their Buy Rating on Second Sight Medical Products

By Austin Angelo

In a report released today, Amit Dayal from H.C. Wainwright reiterated a Buy rating on Second Sight Medical Products (NASDAQ: EYES), with a price target of $5. The company’s shares closed yesterday at $1.08, close to its 52-week high of $3.60.

According to TipRanks.com, Dayal is ranked 0 out of 5 stars with an average return of -11.7% and a 30.9% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Revolution Lighting Technologies, Ascent Solar Technologies, and Ballard Power Systems.

Second Sight Medical Products has an analyst consensus of Moderate Buy, with a price target consensus of $5.

Based on Second Sight Medical Products’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $2.24 million and GAAP net loss of $6.84 million. In comparison, last year the company earned revenue of $1.04 million and had a GAAP net loss of $8.5 million.

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Second Sight Medical Products, Inc. creates a retinal prosthesis to provide sight to patients blinded from outer retinal degenerations such as Retinitis Pigmentosa. It manufactures and market implantable visual prosthetics to enable blind individuals to overcome disability and achieve greater independence. The company was founded by Alfred E.