BIOLASE (NASDAQ:BIOL) Price Target Cut to $2.00 by Analysts at Ascendiant Capital Markets

BIOLASE (NASDAQ:BIOL) had its target price trimmed by Ascendiant Capital Markets from $3.50 to $2.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

A number of other equities research analysts have also commented on BIOL. Benchmark reiterated a speculative buy rating and issued a $0.40 price target on shares of BIOLASE in a research report on Monday, August 12th. Maxim Group downgraded BIOLASE from a strong-buy rating to a hold rating in a research note on Friday, May 24th. Finally, StockNews.com began coverage on BIOLASE in a research note on Sunday, September 1st. They issued a sell rating on the stock.

BIOLASE Stock Performance

NASDAQ BIOL opened at $0.06 on Tuesday. The business’s 50-day moving average price is $0.07 and its two-hundred day moving average price is $0.12. BIOLASE has a 12 month low of $0.04 and a 12 month high of $3.85. The firm has a market capitalization of $1.87 million, a PE ratio of 0.00 and a beta of 0.71.

BIOLASE (NASDAQ:BIOL) last released its quarterly earnings results on Thursday, August 8th. The medical technology company reported ($0.08) EPS for the quarter. BIOLASE had a negative net margin of 41.65% and a negative return on equity of 1,782.73%. The company had revenue of $11.56 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in BIOLASE stock. Virtu Financial LLC increased its position in shares of BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 143,537 shares of the medical technology company’s stock after buying an additional 131,248 shares during the quarter. Virtu Financial LLC owned about 0.43% of BIOLASE worth $27,000 at the end of the most recent quarter. 8.79% of the stock is owned by institutional investors.

BIOLASE Company Profile

BIOLASE, Inc, together with its subsidiaries, develops, manufactures, markets, and sells laser systems for dental practitioners and their patients in the United States and internationally. Its dental laser systems allow dentists, periodontists, endodontists, pediatric dentists, oral surgeons, and other dental specialists to perform a range of minimally invasive dental procedures, including cosmetic, restorative, and complex surgical applications.