Lake Street Capital Increases LENSAR (NASDAQ:LNSR) Price Target to $16.00

LENSAR (NASDAQ:LNSR) had its price objective upped by equities researchers at Lake Street Capital from $12.00 to $16.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s price objective would suggest a potential upside of 23.08% from the company’s current price.

LENSAR Stock Performance

LNSR stock opened at $13.00 on Friday. The company has a market capitalization of $151.00 million, a P/E ratio of -8.90 and a beta of 0.66. The company has a fifty day moving average price of $9.58 and a 200-day moving average price of $7.08. LENSAR has a 52-week low of $2.67 and a 52-week high of $13.18.

LENSAR (NASDAQ:LNSR) last announced its earnings results on Thursday, February 27th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.40). LENSAR had a negative return on equity of 49.02% and a negative net margin of 34.03%. The company had revenue of $16.73 million for the quarter, compared to the consensus estimate of $14.95 million.

Institutional Trading of LENSAR

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of LENSAR by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 100,431 shares of the company’s stock worth $460,000 after purchasing an additional 3,423 shares during the period. Evernest Financial Advisors LLC bought a new position in LENSAR during the fourth quarter worth $174,000. Bailard Inc. acquired a new position in LENSAR in the fourth quarter valued at $181,000. Atria Investments Inc boosted its position in LENSAR by 28.2% during the fourth quarter. Atria Investments Inc now owns 26,055 shares of the company’s stock valued at $233,000 after acquiring an additional 5,729 shares during the last quarter. Finally, Essex Investment Management Co. LLC grew its holdings in LENSAR by 18.3% during the 4th quarter. Essex Investment Management Co. LLC now owns 39,890 shares of the company’s stock worth $357,000 after acquiring an additional 6,184 shares during the period. 40.15% of the stock is currently owned by institutional investors.

About LENSAR

LENSAR, Inc, a commercial-stage medical device company, focuses on designing, developing, and marketing a femtosecond laser system for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism. It offers LENSAR Laser System that incorporates a range of proprietary technologies designed to assist the surgeon in obtaining visual outcomes, efficiency, and reproducibility by providing imaging, procedure planning, design, and precision.