Avinger Inc. (NASDAQ:AVGR) shares traded 72.16% higher at $10.45 on Wall Street last session.
In accordance with the data, 1 analysts cover Avinger Inc. (NASDAQ:AVGR). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $24.00 and a low of $24.00, we find $24.00. Given the previous closing price of $6.07, this indicates a potential upside of 295.39 percent. AVGR stock price is now 13.62% away from the 50-day moving average and -17.00% away from the 200-day moving average. The market capitalization of the company currently stands at $7.50M.
It has been rated a hold by 0 analysts and a buy by 1. Brokers who have rated the stock have averaged $24.00 as their price target over the next twelve months.
With the price target of $2.50, B. Riley Securities recently initiated with Buy rating for Avinger Inc. (NASDAQ: AVGR).
In other news, Subainati Nabeel Paul, Vice President, Finance sold 223 shares of the company’s stock on Mar 23. The stock was sold for $181 at an average price of $0.81. Upon completion of the transaction, the Vice President, Finance now directly owns 85,672 shares in the company, valued at $0.9 million. Insiders disposed of 223 shares of company stock worth roughly $2330.35 over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AVGR stock. A new stake in Avinger Inc. shares was purchased by PROSPERITY WEALTH MANAGEMENT, INC. during the first quarter worth $47,000.
Avinger Inc. (NASDAQ: AVGR) opened at $9.25 on Tuesday. During the past 12 months, Avinger Inc. has had a low of $4.14 and a high of $24.30. The fifty day moving average price for AVGR is $9.20 and a two-hundred day moving average price translates $12.55 for the stock.
The latest earnings results from Avinger Inc. (NASDAQ: AVGR) was released for Jun, 2023. According to the Medical Instruments & Supplies Company, earnings per share came in at -$8.85, missing analysts’ expectations of -$7.35 by -1.5. This compares to -$11.08 EPS in the same period last year. The company reported revenue of $2.04 million for the quarter, compared to $2.13 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -4.27 percent. For the current quarter, analysts expect AVGR to generate $2.39M in revenue.
Avinger Inc.(AVGR) Company Profile
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) in the United States and internationally. 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. The company’s lumivascular products comprise Lightbox imaging consoles, as well as the Ocelot family of catheters, including Ocelot and Tigereye, which are designed to allow physicians to penetrate a total blockage in an artery; and Pantheris, an image-guided atherectomy device that allows physicians to precisely remove arterial plaque in PAD patients. In addition, its chronic total occlusion (CTO)-crossing catheters, Wildcat and Kittycat 2, which employs a proprietary design that uses a rotational spinning technique allowing the physician to switch between passive and active modes when navigating across a CTO. Further, the company develops IMAGE-BTK for the treatment of PAD lesions below-the-knee. It markets and sells its products to interventional cardiologists, vascular surgeons, and interventional radiologists. The company was incorporated in 2007 and is headquartered in Redwood City, California.
