LENSAR (NASDAQ:LNSR) Given New $16.00 Price Target at Lake Street Capital

LENSAR (NASDAQ:LNSR) had its target price upped by research analysts at Lake Street Capital from $12.00 to $16.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s price target would indicate a potential upside of 31.80% from the company’s current price.

LENSAR Stock Performance

LNSR stock traded up $1.27 during mid-day trading on Friday, hitting $12.14. 144,013 shares of the company were exchanged, compared to its average volume of 92,866. LENSAR has a 1-year low of $2.67 and a 1-year high of $13.03. The firm has a market cap of $141.01 million, a P/E ratio of -8.32 and a beta of 0.66. The firm’s 50 day simple moving average is $9.47 and its 200 day simple moving average is $6.99.

LENSAR (NASDAQ:LNSR) last issued its earnings results on Thursday, February 27th. The company reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $16.73 million for the quarter, compared to analyst estimates of $14.95 million.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LNSR. Geode Capital Management LLC increased its position in LENSAR by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 100,431 shares of the company’s stock valued at $460,000 after purchasing an additional 3,423 shares during the period. Evernest Financial Advisors LLC bought a new position in LENSAR during the 4th quarter valued at $174,000. Renaissance Technologies LLC raised its stake in shares of LENSAR by 13.3% during the 4th quarter. Renaissance Technologies LLC now owns 348,891 shares of the company’s stock worth $3,119,000 after purchasing an additional 40,946 shares during the period. Atria Investments Inc raised its stake in shares of LENSAR by 28.2% during the 4th quarter. Atria Investments Inc now owns 26,055 shares of the company’s stock worth $233,000 after purchasing an additional 5,729 shares during the period. Finally, Brandes Investment Partners LP raised its stake in shares of LENSAR by 10.4% during the 4th quarter. Brandes Investment Partners LP now owns 489,318 shares of the company’s stock worth $4,375,000 after purchasing an additional 45,920 shares during the period. Institutional investors own 40.15% of the company’s stock.

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.