BTIG Research Issues Positive Forecast for LENSAR (NASDAQ:LNSR) Stock Price

LENSAR (NASDAQ:LNSR) had its target price raised by equities researchers at BTIG Research from $7.00 to $9.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 15.70% from the company’s current price.

Other analysts also recently issued research reports about the company. Weiss Ratings restated a “sell (d+)” rating on shares of LENSAR in a research note on Friday, August 7th. Wall Street Zen cut LENSAR from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, LENSAR has a consensus rating of “Hold” and a consensus target price of $9.50.

LENSAR Stock Performance

NASDAQ LNSR traded up $1.49 on Thursday, reaching $7.78. 1,720,628 shares of the company’s stock traded hands, compared to its average volume of 92,910. The firm has a market cap of $95.53 million, a price-to-earnings ratio of -13.35 and a beta of 0.89. The stock has a 50 day moving average price of $5.79 and a 200-day moving average price of $7.40. LENSAR has a fifty-two week low of $4.95 and a fifty-two week high of $12.96.

LENSAR (NASDAQ:LNSR) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.26. LENSAR had a negative return on equity of 183.19% and a net margin of 50.94%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LNSR. BNP Paribas Financial Markets boosted its stake in shares of LENSAR by 129.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,008 shares of the company’s stock worth $25,000 after acquiring an additional 1,131 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of LENSAR in the 2nd quarter valued at about $58,000. JPMorgan Chase & Co. increased its stake in shares of LENSAR by 584.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company’s stock valued at $62,000 after purchasing an additional 3,991 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in LENSAR in the 2nd quarter worth about $68,000. Finally, New York State Common Retirement Fund acquired a new position in LENSAR in the 2nd quarter worth about $105,000. Institutional investors and hedge funds own 40.15% of the company’s stock.

LENSAR Company Profile

LENSAR, Inc, headquartered in Orlando, Florida, is a medical technology company specializing in advanced laser systems for ophthalmic surgery. Its flagship product, the LENSAR Laser System, combines proprietary three-dimensional imaging with precision-guided femtosecond laser delivery to perform critical steps in cataract procedures, including capsulotomy creation, lens fragmentation and corneal incisions.

Founded in 2005, LENSAR has concentrated its research and development efforts on enhancing surgical accuracy and patient outcomes in cataract treatment.