Avinger (NASDAQ:AVGR) Upgraded to “Buy” by Zacks Investment Research

Avinger (NASDAQ:AVGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage presently has a $2.00 price target on the medical device company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 38.89% from the company’s current price.

According to Zacks, “Avinger, Inc. is engaged in designing, manufacturing and selling image-guided, catheter-based systems to treat peripheral arterial disease. The company’s product consists of Lightbox imaging console, Wildcat, Kittycat, Ocelot, Ocelot PIXL, Ocelot MVRX and Juicebox. Avinger, Inc. is based in Redwood City, California. “

Separately, ValuEngine upgraded Avinger from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

Shares of NASDAQ AVGR traded down $0.26 during midday trading on Tuesday, hitting $1.44. The stock had a trading volume of 553,023 shares, compared to its average volume of 397,975. The firm has a market capitalization of $10.91 million, a P/E ratio of -0.04 and a beta of 1.44. The company’s 50 day simple moving average is $2.29. Avinger has a 1 year low of $1.41 and a 1 year high of $16.50.

Avinger (NASDAQ:AVGR) last released its earnings results on Wednesday, July 31st. The medical device company reported ($0.87) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.03. The business had revenue of $2.32 million for the quarter. Avinger had a negative return on equity of 236.24% and a negative net margin of 258.12%. On average, equities research analysts anticipate that Avinger will post -4 EPS for the current year.

An institutional investor recently bought a new position in Avinger stock. Spark Investment Management LLC acquired a new position in shares of Avinger Inc (NASDAQ:AVGR) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 103,043 shares of the medical device company’s stock, valued at approximately $98,000. Spark Investment Management LLC owned approximately 0.21% of Avinger as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 5.56% of the company’s stock.

Avinger Company Profile

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells image-guided and catheter-based systems used by physicians to treat patients with peripheral arterial disease (PAD) in the United States and Europe. It develops lumivascular platform that integrates optical coherence tomography visualization with interventional catheters to provide real-time intravascular imaging during the treatment portion of PAD procedures.

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