H.C. Wainwright Reiterates Their Buy Rating on Presbia PLC (LENS)

By Austin Angelo

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Presbia PLC (NASDAQ: LENS) today and set a price target of $6. The company’s shares closed on Friday at $1.80, close to its 52-week low of $1.61.

Selvaraju observed:

“Valuation methodology, risks and uncertainties. We utilize a discounted cash flow-based net present value (NPV) approach to value Presbia. This yields a total value of $160M for the Flexivue Microlens product, using a 20% discount rate, 50% manufacturing and marketing offset, and a 12.5% tax rate as Presbia is domiciled in Ireland.”

According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of -1.5% and a 40.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Presbia PLC with a $6 average price target.

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The company has a one-year high of $7.14 and a one-year low of $1.61. Currently, Presbia PLC has an average volume of 13.35K.

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Presbia Plc is a medical device company, which engages in the development and marketing of presbyopia-correcting solutions under the trademark of Presbia Flexivue Microlens. It operates through the Restoration of Clear Vision Caused by Presbyopia segment. The company was founded on February 2, 2014 and is headquartered in Dublin, Ireland.