Avedro (NASDAQ:AVDR) Downgraded to “Market Perform” at Leerink Swann

Leerink Swann downgraded shares of Avedro (NASDAQ:AVDR) from an outperform rating to a market perform rating in a research report report published on Monday, The Fly reports.

A number of other analysts have also weighed in on AVDR. Zacks Investment Research raised shares of Avedro from a hold rating to a buy rating and set a $26.00 target price on the stock in a report on Monday. Cowen lowered shares of Avedro from an outperform rating to a market perform rating and upped their target price for the stock from $25.00 to $27.00 in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $22.00.

Avedro stock traded up $0.83 during midday trading on Monday, reaching $22.64. 3,651 shares of the stock were exchanged, compared to its average volume of 204,344. The firm has a fifty day simple moving average of $19.49. The company has a current ratio of 9.60, a quick ratio of 9.09 and a debt-to-equity ratio of 0.36. The stock has a market cap of $395.31 million and a price-to-earnings ratio of -1.25. Avedro has a 52 week low of $10.75 and a 52 week high of $24.74.

A number of hedge funds have recently added to or reduced their stakes in AVDR. Jennison Associates LLC purchased a new position in Avedro in the 2nd quarter worth approximately $16,939,000. Redmile Group LLC purchased a new position in Avedro in the 1st quarter worth approximately $1,534,000. Russell Investments Group Ltd. purchased a new position in Avedro in the 2nd quarter worth approximately $2,149,000. Lombard Odier Asset Management USA Corp purchased a new position in Avedro in the 1st quarter worth approximately $1,258,000. Finally, Laurion Capital Management LP purchased a new position in Avedro in the 1st quarter worth approximately $920,000. 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.

See Also: New Google Finance Tool and Screening Stocks

The Fly

Analyst Recommendations for Avedro (NASDAQ:AVDR)

Receive News & Ratings for Avedro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avedro and related companies with MarketBeat.com's FREE daily email newsletter.