Avedro (NASDAQ:AVDR) Announces Quarterly Earnings Results

Avedro (NASDAQ:AVDR) posted its earnings results on Wednesday. The company reported ($0.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.02), Fidelity Earnings reports. The business had revenue of $11.05 million for the quarter, compared to the consensus estimate of $9.96 million.

Shares of NASDAQ:AVDR opened at $22.66 on Friday. Avedro has a 12 month low of $10.75 and a 12 month high of $27.51. The company has a quick ratio of 9.27, a current ratio of 9.90 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $23.19 and its 200 day simple moving average is $20.36. The firm has a market cap of $404.56 million and a price-to-earnings ratio of -1.26.

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of Avedro from an “overweight” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a report on Wednesday, August 14th. Leerink Swann lowered shares of Avedro from an “outperform” rating to a “market perform” rating and set a $22.00 price objective on the stock. in a report on Monday, August 12th. Svb Leerink restated a “market perform” rating and set a $22.00 price objective (down from $25.00) on shares of Avedro in a report on Tuesday, August 13th. Cowen lowered shares of Avedro from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $25.00 to $27.00 in a report on Thursday, August 8th. Finally, Zacks Investment Research lowered shares of Avedro from a “buy” rating to a “hold” rating in a report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $24.00.

Avedro Company Profile

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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