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

Avinger (NASDAQ:AVGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, January 3rd. The brokerage currently has a $0.25 price objective on the medical device company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 27.88% 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. “

Shares of Avinger (NASDAQ AVGR) traded up $0.01 during trading hours on Wednesday, reaching $0.20. 880,916 shares of the company traded hands, compared to its average volume of 1,555,683. Avinger has a 12-month low of $0.17 and a 12-month high of $3.40. The firm has a market cap of $6.20, a price-to-earnings ratio of -0.09 and a beta of -0.20.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings results on Thursday, November 9th. The medical device company reported ($0.43) EPS for the quarter.

In other Avinger news, Chairman John B. Ph D. Md Simpson sold 454,584 shares of Avinger stock in a transaction on Monday, November 13th. The shares were sold at an average price of $0.27, for a total value of $122,737.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John B. Ph D. Md Simpson sold 1,074,130 shares of Avinger stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $0.25, for a total transaction of $268,532.50. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

An institutional investor recently bought a new position in Avinger stock. AWM Investment Company Inc. acquired a new stake in Avinger Inc (NASDAQ:AVGR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,150,000 shares of the medical device company’s stock, valued at approximately $516,000. AWM Investment Company Inc. owned 4.81% of Avinger as of its most recent filing with the Securities and Exchange Commission (SEC). 3.70% of the stock is owned by institutional investors and hedge funds.

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Avinger Company Profile

Avinger, Inc is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses on introducing products based on its lumivascular platform, which is an intravascular image-guided system.

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