Photomedex (NASDAQ: PHMD) had its target price raised by Ascendiant Capital Markets from $18.00 to $20.00 in a report released on Thursday. Ascendiant Capital Markets currently has a strong-buy rating on the stock.
“The Company ended the quarter with $62 MM in cash and equivalents compared to $55 MM at the end of Q3, even after spending $5.4 MM to repurchase 418K shares of its stock during the quarter. Management expects Q1 revenue to be at least $57 MM.,” the firm’s analyst commented.
Photomedex (NASDAQ: PHMD) traded up 0.49% on Thursday, hitting $16.25. Photomedex has a 1-year low of $9.85 and a 1-year high of $19.18. The stock’s 50-day moving average is currently $14.8. The company has a market cap of $340.4 million and a price-to-earnings ratio of 14.97.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Photomedex from an outperform rating to a neutral rating in a research note to investors on Wednesday, February 20th. They now have a $17.00 price target on the stock.
Four equities research analysts have rated the stock with a buy rating, and one has issued an overweight rating to the company’s stock. Photomedex presently has an average rating of buy and a consensus target price of $21.50.
Photomedex Inc. is a Global Skin Health Solutions company that provides integrated disease management and aesthetic solutions through laser and light-based devices, pharmaceuticals and cosmeceuticals.
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