Avedro (NASDAQ:AVDR) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

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

NASDAQ AVDR traded down $1.31 during trading hours on Thursday, hitting $21.50. The company had a trading volume of 326,400 shares, compared to its average volume of 139,392. The company has a debt-to-equity ratio of 0.41, a quick ratio of 9.27 and a current ratio of 9.90. Avedro has a 1-year low of $10.75 and a 1-year high of $27.51. The company has a market cap of $410.21 million and a PE ratio of -1.20. The business has a 50 day moving average of $23.27 and a 200-day moving average of $20.31.

Several research firms recently commented on AVDR. Zacks Investment Research lowered Avedro from a “buy” rating to a “hold” rating in a report on Monday, October 14th. Cowen lowered Avedro from an “outperform” rating to a “market perform” rating and increased their target price for the company from $25.00 to $27.00 in a report on Thursday, August 8th. Svb Leerink reissued a “market perform” rating and issued a $22.00 target price (down previously from $25.00) on shares of Avedro in a report on Tuesday, August 13th. 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 report on Wednesday, August 14th. Finally, 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 report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Avedro currently has a consensus rating of “Hold” and an average price target of $24.00.

About Avedro

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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