Boston, MA 03/17/2014 (wallstreetpr) – STAAR Surgical Company (NASDAQ:STAA) has been buoyed by recent developments where its Visian Toric implantable lens received favorable votes from the Food and Drug Administration ophthalmic devices panel. Ophthalmic devices panel reviews and evaluate safety concerns, reliability and effectiveness of any devices developed for the eye and ears.
The positive news on favorable response seem to be have had a greater effect on the company’s stock which has risen in early Monday trading session by highs of 17.11%.
The Visian Toric ICL is are fractive implant placed in the eye posterior chamber effective for permitting a surgeon to carry out any procedure on both the myopia and astigmatism at a given time. Currently there is no approved phakic IOL in the US developed to be placed between the iris and the natural crystalline lens. Visian ICL had been approved by the FDA back in December of 2005to treat myopia, the lenses have already received a huge reception from the American market.
STAAR Surgical Company (NASDAQ:STAA) reports that the panel voted favorably well on all the three questions that had been posed to it by the FDA division of Ophthalmic. The three questions mainly focused on the safety of the Collamer lens, their effectiveness and whether the lens are able to provide more benefits than risks. Some of the surgeons that were present for the presentation of the review include Dr. John Rivera from hopes and Dr. Francis Price the prince vision group.
STAAR Surgical stoke upgraded to a “Buy”
Analysts at Canaccord Genuity have weighed into STAAR Surgical Company (NASDAQ:STAA)’s stock rating it as a “Hold” on a report released to investors on Monday. The company’s stock currently commands a 52 week high of $18.24 with a low of $5.27. Its 50 day moving average currently stands at $15.23 with a 200 day moving average of $14.1 with a market cap of $583.5 and price to earnings ratio of 1509
STAAR Surgical Company (NASDAQ:STAA) last reported its quarterly results on February 26 in which earnings per share came in at $0.02 in line with consensus estimates. Total revenue for the quarter came in at $18.90 falling short of consensus estimates of $18.98 million although the revenue was up by 14.5% compared to the same quarter the prior year.
