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Maxim Group Thinks Biolase’s Stock is Going to Recover

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Maxim Group analyst Anthony Vendetti reiterated a Buy rating on Biolase (BIOLResearch Report) yesterday and set a price target of $2.00. The company’s shares closed last Tuesday at $0.41, close to its 52-week low of $0.27.

According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 8.1% and a 38.2% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as ReShape Lifesciences, Milestone Scientific, and Dermata Therapeutics.

Biolase has an analyst consensus of Moderate Buy, with a price target consensus of $2.00, a 412.8% upside from current levels. In a report issued on January 7, Colliers Securities also reiterated a Buy rating on the stock with a $2.00 price target.

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Based on Biolase’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $9.53 million and GAAP net loss of $3.28 million. In comparison, last year the company earned revenue of $6.54 million and had a net profit of $12K.

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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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