Avinger (NASDAQ:AVGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm presently has a $0.50 price target on the medical device company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 32.98% from the stock’s previous close.
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, Aegis reissued a “buy” rating and set a $1.40 price target on shares of Avinger in a research report on Monday, June 29th.
Shares of NASDAQ AVGR opened at $0.38 on Tuesday. The firm has a market cap of $31.80 million, a P/E ratio of -0.19 and a beta of 1.57. The company has a current ratio of 1.39, a quick ratio of 1.14 and a debt-to-equity ratio of 0.66. Avinger has a 1-year low of $0.24 and a 1-year high of $1.63. The business’s 50 day moving average is $0.49 and its 200-day moving average is $0.42.
Avinger (NASDAQ:AVGR) last announced its earnings results on Thursday, July 30th. The medical device company reported ($0.18) earnings per share for the quarter. The firm had revenue of $1.47 million for the quarter. Avinger had a negative return on equity of 283.92% and a negative net margin of 225.26%. Analysts forecast that Avinger will post -0.92 EPS for the current year.
A hedge fund recently bought a new stake in Avinger stock. Sabby Management LLC bought a new position in Avinger Inc (NASDAQ:AVGR) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 568,400 shares of the medical device company’s stock, valued at approximately $236,000. Avinger makes up 0.1% of Sabby Management LLC’s portfolio, making the stock its 24th largest holding. Sabby Management LLC owned about 1.93% of Avinger as of its most recent SEC filing. Institutional investors and hedge funds own 8.59% 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.
Read More: Hold Rating
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