StockNews.com Initiates Coverage on Avinger (NASDAQ:AVGR)

Stock analysts at StockNews.com initiated coverage on shares of Avinger (NASDAQ:AVGR) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the medical device company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of Avinger in a research report on Thursday, March 21st.

Avinger Trading Up 4.1 %

NASDAQ AVGR opened at $3.85 on Wednesday. Avinger has a 12 month low of $2.50 and a 12 month high of $18.00. The company’s 50-day moving average price is $3.44 and its 200-day moving average price is $3.34. The stock has a market cap of $6.12 million, a PE ratio of -0.15 and a beta of 1.26.

Avinger (NASDAQ:AVGR) last issued its earnings results on Wednesday, March 20th. The medical device company reported ($3.93) EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($4.57). The business had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.52 million. As a group, sell-side analysts forecast that Avinger will post -2.08 earnings per share for the current year.

About Avinger

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells a suite of image-guided and catheter-based systems used by physicians to treat patients with peripheral artery disease (PAD) primarily in the United States and Germany. The company 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.