Leerink Swann Downgrades Avedro (NASDAQ:AVDR) to Market Perform

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Leerink Swann cut shares of Avedro (NASDAQ:AVDR) from an outperform rating to a market perform rating in a report issued on Monday morning, FlyOnTheWall reports. They currently have $22.00 price objective on the stock.

AVDR has been the subject of a number of other research reports. Zacks Investment Research upgraded Avedro from a hold rating to a buy rating and set a $26.00 price target for the company in a research note on Monday. Cowen downgraded 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 note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $24.00.

AVDR stock opened at $21.99 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 9.90 and a quick ratio of 9.09. Avedro has a 52-week low of $10.75 and a 52-week high of $24.74. The company’s 50-day moving average is $19.63.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jennison Associates LLC bought a new stake in shares of Avedro in the 2nd quarter worth approximately $16,939,000. Vanguard Group Inc. bought a new stake in shares of Avedro in the 2nd quarter worth approximately $5,609,000. BlackRock Inc. bought a new stake in shares of Avedro in the 2nd quarter worth approximately $4,699,000. Redmile Group LLC bought a new stake in shares of Avedro in the 1st quarter worth approximately $1,534,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Avedro in the 2nd quarter worth approximately $2,149,000. Hedge funds and other institutional investors own 60.35% of the company’s stock.

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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