Biolase price target lowered to $4 from $10 at Benchmark

Benchmark analyst Bruce Jackson lowered the firm’s price target on Biolase to $4 from $10 and keeps a Speculative Buy rating on the shares after lowering its EPS estimates following the completion of a unit offering of convertible preferred stock and warrants on Monday. Results from Part 2 of the McGuire Study, including the radiographic data, could be published later this year and provide a possible catalyst for the shares, the analyst tells investors.