Zacks Investment Research upgraded shares of Avinger (NASDAQ:AVGR) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $0.50 price objective on the medical device company’s stock.
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 restated a buy rating and set a $1.40 target price on shares of Avinger in a report on Monday, June 29th.
Avinger (NASDAQ:AVGR) last issued its earnings results on Thursday, July 30th. The medical device company reported ($0.18) earnings per share (EPS) for the quarter. Avinger had a negative return on equity of 283.92% and a negative net margin of 225.26%. The company had revenue of $1.47 million during the quarter. As a group, sell-side analysts anticipate that Avinger will post -0.92 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Avinger stock. Sabby Management LLC grew its stake in Avinger Inc (NASDAQ:AVGR) by 284.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,183,464 shares of the medical device company’s stock after buying an additional 1,615,064 shares during the quarter. Avinger accounts for approximately 0.1% of Sabby Management LLC’s portfolio, making the stock its 19th biggest position. Sabby Management LLC owned approximately 4.02% of Avinger worth $676,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.59% of the company’s stock.
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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