Aegis Capital Thinks Avinger’s Stock is Going to Recover

By George MacDonald

In a report issued on May 15, Nathan Weinstein from Aegis Capital reiterated a Buy rating on Avinger (NASDAQ: AVGR), with a price target of $1.40. The company’s shares closed last Monday at $0.30, close to its 52-week low of $0.24.

The the analyst consensus on Avinger is currently a Hold rating.

According to TipRanks.com, Weinstein is ranked 0 out of 5 stars with an average return of -29.2% and a 17.2% success rate. Weinstein covers the Healthcare sector, focusing on stocks such as Cardiovascular Systems, Dynatronics, and SCYNEXIS.

Based on Avinger’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.26 million and GAAP net loss of $5.85 million. In comparison, last year the company earned revenue of $1.84 million and had a GAAP net loss of $5.06 million.

Avinger, Inc. manufactures catheter devices used to treat vascular diseases. It designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral artery disease. Its products include Pantheris, Lightbox, Ocelot, Ocelot MVRX, Ocelot PIXL, Pantheris, Wildcat, Juicebox and Kittycat 2. The company offers its products to interventional cardiologists, vascular surgeons, and interventional radiologists. Avinger was founded by John B. Simpson and Himanshu N. Patel on March 8, 2007 and is headquartered in Redwood City, CA.