Avedro (NASDAQ:AVDR) Posts Earnings Results

Avedro (NASDAQ:AVDR) released its quarterly earnings results on Wednesday. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.02), Fidelity Earnings reports. The business had revenue of $11.05 million during the quarter, compared to analysts’ expectations of $9.96 million.

Shares of Avedro stock opened at $21.50 on Friday. Avedro has a one year low of $10.75 and a one year high of $27.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 9.90 and a quick ratio of 9.27. The stock’s 50-day moving average is $23.27 and its 200 day moving average is $20.31. The firm has a market cap of $404.56 million and a price-to-earnings ratio of -1.20.

A number of equities research analysts have commented on the company. Cowen lowered Avedro from an “outperform” rating to a “market perform” rating and upped their price target for the company from $25.00 to $27.00 in a research report on Thursday, August 8th. Zacks Investment Research lowered Avedro from a “buy” rating to a “hold” rating in a research report on Monday, October 14th. Svb Leerink restated a “market perform” rating and set a $22.00 target price (down previously from $25.00) on shares of Avedro in a research report on Tuesday, August 13th. Leerink Swann lowered Avedro from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. lowered Avedro from an “overweight” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Avedro has a consensus rating of “Hold” and an average target price of $24.00.

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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