Lake Street Capital Upgrades LENSAR (NASDAQ:LNSR) to “Buy”

LENSAR (NASDAQ:LNSR) was upgraded by stock analysts at Lake Street Capital from a “hold” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $10.00 target price on the stock. Lake Street Capital’s target price would indicate a potential upside of 65.02% from the company’s current price.

Other analysts have also recently issued research reports about the stock. BTIG Research raised shares of LENSAR from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LENSAR in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.00.

LENSAR Stock Performance

LENSAR stock opened at $6.06 on Wednesday. The stock has a market capitalization of $73.33 million, a P/E ratio of -2.09 and a beta of 0.99. The company’s fifty day moving average price is $10.44 and its 200 day moving average price is $11.19. LENSAR has a 1 year low of $5.35 and a 1 year high of $14.31.

LENSAR (NASDAQ:LNSR) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The business had revenue of $16.03 million for the quarter, compared to the consensus estimate of $20.30 million.

Hedge Funds Weigh In On LENSAR

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its position in shares of LENSAR by 129.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,008 shares of the company’s stock valued at $25,000 after acquiring an additional 1,131 shares during the last quarter. JPMorgan Chase & Co. increased its position in LENSAR by 584.3% during the second quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company’s stock worth $62,000 after purchasing an additional 3,991 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in LENSAR during the second quarter worth about $68,000. New York State Common Retirement Fund purchased a new position in LENSAR during the second quarter worth about $105,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in LENSAR in the 3rd quarter valued at about $125,000. Institutional investors and hedge funds own 40.15% of the company’s stock.

LENSAR Company Profile

LENSAR, Inc, headquartered in Orlando, Florida, is a medical technology company specializing in advanced laser systems for ophthalmic surgery. Its flagship product, the LENSAR Laser System, combines proprietary three-dimensional imaging with precision-guided femtosecond laser delivery to perform critical steps in cataract procedures, including capsulotomy creation, lens fragmentation and corneal incisions.

Founded in 2005, LENSAR has concentrated its research and development efforts on enhancing surgical accuracy and patient outcomes in cataract treatment.