Eyegate Pharmaceuticals Inc (EYEG) Shares Up Over 53% on $10 Price Target Initiation by Rodman & Renshaw

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Shares of Eyegate Pharmaceuticals Inc (NASDAQ:EYEG) are up huge this morning, after Rodman & Renshaw analyst Yi Chen initiated the stock with a ‘Buy’ rating and issued a $10 price target on shares.

The initiation could mark huge progress for the company, in that it may lead to acquisition of shares by several funds in the future. However, some investors are questioning whether or not a jump of over 50% was warranted. Some investors believe that now is the perfect time to short shares of Eyegate (EYEG). It will be interesting to follow this stock as the day unfolds and see if it holds these gains.

The stock is up 53.80% or $0.92 following the news, hitting $2.63 per share. About 139,357 shares traded hands or up 264.54% from the average. eyeg has declined 57.50% since June 25, 2015 and is currently downtrending. It has underperformed the S&P500 by 49.79%.

Eyegate Pharmaceuticals, Inc. is a clinical-stage specialty pharmaceutical firm that is focused on developing and commercializing therapeutics and drug delivery systems for treating diseases of the eye. The company has a market cap of $20.13 million. EGP-437 is the first and only product in clinical trials, and incorporates a reformulated topically active corticosteroid, dexamethasone phosphate, that is delivered into the ocular tissues though the Company’s proprietary drug delivery system, the EyeGate II Delivery System. It currently has negative earnings. EGP-437 is being developed under the 505(2) New Drug Application (NDA), regulatory pathway for drugs submitted for approval to the United States Food and Drug Administration (FDA).

#focuskw=’Eyegate Pharmaceuticals Inc (NASDAQ:EYEG)’##metadesc=’Shares of Eyegate Pharmaceuticals Inc (NASDAQ:EYEG) are up huge this morning, after Rodman & Renshaw analyst Yi Chen initiated the stock with a ‘Buy’ rating and issued a $10 price target on shares.

The initiation could mark huge progress for the company, in that it may lead to acquisition of shares by several funds in the future. However, some investors are questioning whether or not a jump of over 50% was warranted. Some investors believe that now is the perfect time to short shares of Eyegate (EYEG). It will be interesting to follow this stock as the day unfolds and see if it holds these gains.

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