Svb Leerink reissued their market perform rating on shares of Avedro (NASDAQ:AVDR) in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. Svb Leerink currently has 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.
AVDR has been the subject of a number of other research reports. Zacks Investment Research raised shares of Avedro from a hold rating to a buy rating and set a $26.00 target price for the company in a research note on Monday, August 12th. Cowen lowered shares of Avedro from an outperform rating to a market perform rating and lifted their target price for the company from $25.00 to $27.00 in a research note on Thursday, August 8th. Finally, Leerink Swann lowered shares of Avedro from an outperform rating to a market perform rating and set a $22.00 target price for the company. in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Avedro currently has an average rating of Hold and an average target price of $24.00.
Shares of NASDAQ:AVDR opened at $22.67 on Tuesday. The firm’s fifty day moving average is $19.68. Avedro has a 12-month low of $10.75 and a 12-month high of $24.74. The company has a debt-to-equity ratio of 0.41, a current ratio of 9.90 and a quick ratio of 9.09.
Hedge funds have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Avedro in the 1st quarter valued at $209,000. Laurion Capital Management LP acquired a new position in Avedro during the 1st quarter worth $920,000. Falcon Point Capital LLC lifted its position in Avedro by 3.1% during the 2nd quarter. Falcon Point Capital LLC now owns 21,954 shares of the company’s stock worth $431,000 after acquiring an additional 653 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Avedro during the 1st quarter worth $31,000. Finally, Lombard Odier Asset Management USA Corp acquired a new position in Avedro during the 1st quarter worth $1,258,000. 60.35% of the stock is owned by institutional investors and hedge funds.
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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