Presbia (LENS) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Presbia (NASDAQ:LENS) in a research report sent to investors on Wednesday morning. HC Wainwright currently has a $7.00 target price on the medical instruments supplier’s stock.

Several other brokerages also recently commented on LENS. Jefferies Group reiterated a buy rating and issued a $10.00 target price (down previously from $11.00) on shares of Presbia in a report on Friday, October 6th. ValuEngine upgraded shares of Presbia from a strong sell rating to a sell rating in a report on Friday, September 1st. Finally, Zacks Investment Research downgraded shares of Presbia from a hold rating to a sell rating in a report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $9.67.

Shares of Presbia (NASDAQ LENS) traded down $0.31 on Wednesday, reaching $4.34. 305,900 shares of the company traded hands, compared to its average volume of 31,216. Presbia has a 12-month low of $1.86 and a 12-month high of $7.14. The company has a current ratio of 3.02, a quick ratio of 2.94 and a debt-to-equity ratio of 0.07.

A hedge fund recently raised its stake in Presbia stock. FMR LLC raised its stake in shares of Presbia PLC (NASDAQ:LENS) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,568,278 shares of the medical instruments supplier’s stock after purchasing an additional 13,375 shares during the quarter. FMR LLC owned 15.15% of Presbia worth $5,856,000 as of its most recent filing with the SEC. 16.05% of the stock is currently owned by institutional investors.

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About Presbia

Presbia PLC is an ophthalmic device company. The Company develops and markets an optical lens implant for treating presbyopia, the age-related loss of the ability to focus on near objects. The Company’s segment is the restoration of clear vision caused by presbyopia. The Company provides the refractive lens for patient surgeries and accessories for procedures performed exclusively outside the United States.

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