Lake Street analyst Frank Takkinen assumed coverage of Biolase with a Buy rating and $1.50 price target. Following a $9.75M follow-on offering, Takkinen thinks the management team now has the needed funding to bridge the company to breakeven, the analyst tells investors in a research note. He says that focus is on the company’s profitability given the lack of profits since its inception, but acknowledges that Biolase’s technology has significant verification and is best in class.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on BIOL: