Avedro’s (AVDR) “Market Perform” Rating Reiterated at Svb Leerink

Svb Leerink reiterated their market perform rating on shares of Avedro (NASDAQ:AVDR) in a report issued on Tuesday, BenzingaRatingsTable reports. The firm currently has a $22.00 price objective on the stock, down from their previous price objective 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.

Several other research firms also recently issued reports on AVDR. Leerink Swann downgraded shares of Avedro from an outperform rating to a market perform rating and set a $22.00 price objective on the stock. in a report on Monday. Zacks Investment Research upgraded shares of Avedro from a hold rating to a buy rating and set a $26.00 price objective for the company in a research report on Monday. Finally, Cowen cut shares of Avedro from an outperform rating to a market perform rating and lifted their price target for the company from $25.00 to $27.00 in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $24.00.

AVDR stock opened at $21.99 on Tuesday. The company has a fifty day simple moving average of $19.63. Avedro has a 12 month low of $10.75 and a 12 month high of $24.74. The company has a current ratio of 9.90, a quick ratio of 9.09 and a debt-to-equity ratio of 0.41.

Several hedge funds and other institutional investors have recently modified their holdings of AVDR. Strs Ohio purchased a new stake in shares of Avedro during the 2nd quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Avedro in the 1st quarter worth about $31,000. Tower Research Capital LLC TRC boosted its position in shares of Avedro by 444.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,304 shares of the company’s stock worth $45,000 after buying an additional 1,881 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Avedro in the 1st quarter worth about $91,000. Finally, Spark Investment Management LLC purchased a new stake in shares of Avedro in the 1st quarter worth about $192,000. Institutional investors own 60.35% of the company’s stock.

About Avedro

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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Analyst Recommendations for Avedro (NASDAQ:AVDR)

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