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Maxim Group Remains a Buy on Biolase (BIOL)

Maxim Group analyst Anthony Vendetti maintained a Buy rating on Biolase (BIOLResearch Report) yesterday and set a price target of $10.00. The company’s shares closed yesterday at $5.21.

Vendetti covers the Healthcare sector, focusing on stocks such as Nephros, ReShape Lifesciences, and Aethlon Medical. According to TipRanks, Vendetti has an average return of 3.5% and a 38.01% success rate on recommended stocks.

Currently, the analyst consensus on Biolase is a Strong Buy with an average price target of $19.00.

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Based on Biolase’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $10.17 million and a GAAP net loss of $4.78 million. In comparison, last year the company earned a revenue of $8.12 million and had a GAAP net loss of $6.9 million

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BIOLASE, Inc. is a medical device company, which engages in the development, manufacture, market and sale of laser systems in dentistry and medicine. It operates through Waterlase (all-tissue) systems, and Diode (soft-tissue) systems products. The Waterlase systems uses a patented combination of water and laser energy to perform procedures using drills, scalpels, and other traditional dental instruments for cutting soft and hard tissue. The Diode systems performs soft tissue, pain therapy, and cosmetic procedures, including teeth whitening. The company was founded in 1987 and is headquartered in Irvine, CA.

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