Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded 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. Cowen cut Avedro from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $25.00 to $27.00 in a research note on Thursday, August 8th. Leerink Swann cut Avedro from an “outperform” rating to a “market perform” rating in a research note on Monday. Finally, Svb Leerink restated a “market perform” rating and set a $22.00 target price (down previously from $25.00) on shares of Avedro in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Avedro has an average rating of “Hold” and an average target price of $22.00.
AVDR stock opened at $22.35 on Wednesday. The stock’s 50 day simple moving average is $19.53. The stock has a market capitalization of $382.97 million and a PE ratio of -1.24. Avedro has a fifty-two week low of $10.75 and a fifty-two week high of $24.74. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.09 and a current ratio of 9.60.
Large investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Avedro in the second quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of Avedro in the first quarter valued at approximately $31,000. Tower Research Capital LLC TRC increased its holdings in shares of Avedro by 444.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,304 shares of the company’s stock valued at $45,000 after purchasing an additional 1,881 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Avedro in the first quarter valued at approximately $91,000. Finally, Spark Investment Management LLC acquired a new position in shares of Avedro in the first quarter valued at approximately $192,000. 60.35% of the stock is currently owned by institutional investors and hedge funds.
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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