Avinger Inc (NASDAQ:AVGR)‘s stock had its “buy” rating reiterated by investment analysts at Cowen and Company in a report issued on Friday, April 14th.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Avinger from a “hold” rating to a “buy” rating and set a $0.50 price target on the stock in a research report on Friday, April 14th. CIBC cut shares of Avinger from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 12th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Avinger in a research report on Wednesday, April 12th. Finally, Canaccord Genuity cut shares of Avinger from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $4.13.
Avinger (NASDAQ:AVGR) last issued its quarterly earnings results on Monday, March 6th. The medical device company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by $0.03. Avinger had a negative net margin of 322.49% and a negative return on equity of 1,090.68%. The business had revenue of $4.68 million for the quarter, compared to the consensus estimate of $4.70 million.
A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC bought a new stake in Avinger during the fourth quarter valued at $5,772,000. Alyeska Investment Group L.P. raised its position in shares of Avinger by 0.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 380,209 shares of the medical device company’s stock valued at $1,407,000 after buying an additional 3,029 shares in the last quarter. Millrace Asset Group Inc. raised its position in shares of Avinger by 74.4% in the fourth quarter. Millrace Asset Group Inc. now owns 218,018 shares of the medical device company’s stock valued at $807,000 after buying an additional 93,018 shares in the last quarter. Broadfin Capital LLC purchased a new position in shares of Avinger during the first quarter valued at approximately $950,000. Finally, RMB Capital Management LLC raised its position in shares of Avinger by 198.7% in the first quarter. RMB Capital Management LLC now owns 906,552 shares of the medical device company’s stock valued at $1,722,000 after buying an additional 603,100 shares in the last quarter. Institutional investors and hedge funds own 59.82% of the company’s stock.
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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