Svb Leerink reiterated their market perform rating on shares of Avedro (NASDAQ:AVDR) in a report issued on Tuesday morning, BenzingaRatingsTable reports. They currently have a $22.00 price target on the stock, down from their previous price target of $25.00. Svb Leerink also issued estimates for Avedro’s Q3 2019 earnings at ($0.51) EPS, Q4 2019 earnings at ($0.43) EPS, FY2019 earnings at ($2.13) EPS, Q1 2020 earnings at ($0.51) EPS, FY2020 earnings at ($1.74) EPS and FY2022 earnings at ($0.05) EPS.
A number of other equities research analysts have also recently weighed in on the company. Leerink Swann cut Avedro from an outperform rating to a market perform rating and set a $22.00 price target on the stock. in a report on Monday, August 12th. Cowen cut Avedro from an outperform rating to a market perform rating and lifted their price target for the company from $25.00 to $27.00 in a report on Thursday, August 8th. Finally, Zacks Investment Research raised Avedro from a hold rating to a buy rating and set a $26.00 price target on the stock in a report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $24.00.
AVDR opened at $22.67 on Tuesday. The company’s 50 day simple moving average is $19.68. The company has a current ratio of 9.90, a quick ratio of 9.09 and a debt-to-equity ratio of 0.41. Avedro has a twelve month low of $10.75 and a twelve month high of $24.74.
Several hedge funds and other institutional investors have recently bought and sold shares of AVDR. Strs Ohio acquired a new position in shares of Avedro during the second quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of Avedro during the first quarter valued at approximately $31,000. Tower Research Capital LLC TRC increased its stake in shares of Avedro by 444.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,304 shares of the company’s stock valued at $45,000 after acquiring an additional 1,881 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Avedro during the first quarter valued at approximately $91,000. Finally, Spark Investment Management LLC acquired a new position in shares of Avedro during the first quarter valued at approximately $192,000. Institutional investors and hedge funds own 60.35% of the company’s stock.
Avedro, Inc, an ophthalmic pharmaceutical and medical device company, develops and commercializes products to treat ophthalmic disorders and conditions, primarily associated with corneal weakness. The company's Avedro Corneal Remodeling platform comprises KXL and Mosaic systems, which deliver ultraviolet A or UVA light, and a suite of single-use riboflavin drug formulations.
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