Zacks Investment Research upgraded shares of Avedro (NASDAQ:AVDR) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Zacks.com reports. They currently have $26.00 target price on the stock.
According to Zacks, “Avedro Inc. is a commercial-stage ophthalmic medical technology company. It focuses on treating corneal ectatic disorders and improving vision to reduce dependency on eyeglasses or contact lenses. Avedro Inc. is based in Waltham, Massachusetts. “
Separately, Cowen cut Avedro from an outperform rating to a market perform rating and upped their price objective for the stock from $25.00 to $27.00 in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $24.00.
Hedge funds have recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Avedro during the first quarter worth about $209,000. Laurion Capital Management LP acquired a new position in shares of Avedro during the first quarter worth about $920,000. Catalyst Capital Advisors LLC acquired a new position in shares of Avedro during the first quarter worth about $31,000. Lombard Odier Asset Management USA Corp acquired a new position in shares of Avedro during the first quarter worth about $1,258,000. Finally, Redmile Group LLC acquired a new position in shares of Avedro during the first quarter worth about $1,534,000. 60.35% of the stock is owned by institutional investors.
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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