BTIG Research Forecasts Strong Price Appreciation for LENSAR (NASDAQ:LNSR) Stock

Key Points

• BTIG Research raised LENSAR’s price target from $7.00 to $9.00 and maintained a “buy” rating, implying 15.7% upside from the prior close.
• Analyst sentiment remains mixed: two analysts rate the stock a buy and one rates it a sell, producing a consensus “hold” rating and average target price of $9.50.
• LENSAR shares surged to $7.78 on heavy trading volume, while the company reported quarterly EPS of $0.10—$0.26 above expectations. Institutional investors own approximately 40.15% of the stock.

LENSAR (NASDAQ:LNSR - Get Free Report) had its target price lifted by equities researchers at BTIG Research from $7.00 to $9.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's price objective suggests a potential upside of 15.70% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reissued a "sell (d+)" rating on shares of LENSAR in a report on Friday, August 7th. Wall Street Zen downgraded shares of LENSAR from a "hold" rating to a "sell" rating in a 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $9.50.

LENSAR Price Performance

NASDAQ LNSR traded up $1.49 on Thursday, hitting $7.78. The stock had a trading volume of 1,720,628 shares, compared to its average volume of 92,910. The business's fifty day moving average price is $5.79 and its 200 day moving average price is $7.40. The stock has a market cap of $95.53 million, a price-to-earnings ratio of -13.35 and a beta of 0.89. LENSAR has a 52-week low of $4.95 and a 52-week high of $12.96.

LENSAR (NASDAQ:LNSR - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.10 EPS for the quarter, beating 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 Trading of LENSAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of LENSAR by 129.0% in the third quarter. BNP Paribas Financial Markets now owns 2,008 shares of the company's stock valued at $25,000 after purchasing an additional 1,131 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of LENSAR by 584.3% during the second quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company's stock worth $62,000 after purchasing an additional 3,991 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in LENSAR in the second quarter valued at approximately $68,000. New York State Common Retirement Fund purchased a new stake in LENSAR in the second quarter valued at approximately $105,000. Finally, Bank of New York Mellon Corp acquired a new position in LENSAR in the 2nd quarter worth approximately $58,000. Institutional investors and hedge funds own 40.15% of the company's stock.

About LENSAR

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.

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