Avedro Inc (NASDAQ:AVDR) Given Average Recommendation of “Hold” by Brokerages

Avedro Inc (NASDAQ:AVDR) has been given an average recommendation of “Hold” by the seven ratings firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $24.00.

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Avedro from an “overweight” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research report on Wednesday. Cowen cut shares of Avedro from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $25.00 to $27.00 in a research report on Thursday, August 8th. Svb Leerink reissued a “market perform” rating and set a $22.00 price objective (down previously from $25.00) on shares of Avedro in a research report on Tuesday. Zacks Investment Research raised shares of Avedro from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Monday. Finally, Leerink Swann cut shares of Avedro from an “outperform” rating to a “market perform” rating and set a $22.00 price target on the stock. in a research report on Monday.

Shares of AVDR stock traded up $0.07 on Thursday, reaching $21.95. 8,311 shares of the company were exchanged, compared to its average volume of 209,711. The stock has a market capitalization of $373.72 million and a P/E ratio of -1.22. The firm has a 50-day simple moving average of $19.57. The company has a current ratio of 9.60, a quick ratio of 9.09 and a debt-to-equity ratio of 0.36. Avedro has a one year low of $10.75 and a one year high of $24.74.

A number of hedge funds and other institutional investors have recently made changes to their positions in AVDR. Strs Ohio purchased a new stake in Avedro in the 2nd quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new stake in Avedro in the 1st quarter valued at about $31,000. Tower Research Capital LLC TRC increased its stake in Avedro by 444.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,304 shares of the company’s stock valued at $45,000 after buying an additional 1,881 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Avedro in the 1st quarter valued at about $91,000. Finally, Spark Investment Management LLC purchased a new stake in Avedro in the 1st quarter valued at about $192,000. 60.35% of the stock is currently 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.

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Analyst Recommendations for Avedro (NASDAQ:AVDR)

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