Cynosure Price Target Cut to $35.00 by Analysts at Maxim Group (CYNO)
Investment analysts at Maxim Group decreased their price target on shares of Cynosure (NASDAQ:CYNO) from $39.00 to $35.00 in a note issued to investors on Wednesday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Maxim Group’s target price would suggest a potential upside of 54.80% from the stock’s previous close.
A number of other firms have also recently commented on CYNO. Analysts at Zacks downgraded shares of Cynosure from an “outperform” rating to a “neutral” rating in a research note on Monday, April 14th. They now have a $26.60 price target on the stock. Separately, analysts at TheStreet upgraded shares of Cynosure from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, analysts at Griffin Securities initiated coverage on shares of Cynosure in a research note on Monday, February 10th. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $34.15.
Shares of Cynosure (NASDAQ:CYNO) traded down 6.37% during mid-day trading on Wednesday, hitting $21.17. 327,677 shares of the company’s stock traded hands. Cynosure has a 1-year low of $21.09 and a 1-year high of $31.48. The stock’s 50-day moving average is $26.7 and its 200-day moving average is $26.49. The company’s market cap is $471.3 million.
Cynosure (NASDAQ:CYNO) last announced its earnings results on Tuesday, May 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.04. The company had revenue of $62.00 million for the quarter, compared to the consensus estimate of $64.70 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 52.3% on a year-over-year basis. On average, analysts predict that Cynosure will post $1.43 earnings per share for the current fiscal year.
Cynosure Inc (NASDAQ:CYNO) develops and markets aesthetic treatment systems that are used by physicians and other practitioners to perform non-invasive and minimally invasive procedures to remove hair rejuvenate the skin through the treatment of vascular and pigmented lesions, remove multi-colored tattoos, liquefy and remove unwanted fat through laser lypolysis, reduce cellulite and treat onychomycosis.
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