Aegis Capital Believes Avinger (NASDAQ: AVGR) Won’t Stop Here

Aegis Capital analyst Aegis Capital Corp. maintained a Buy rating on Avinger (AVGRResearch Report) yesterday and set a price target of $2.50. The company’s shares closed last Tuesday at $1.96, close to its 52-week high of $2.14.

Currently, the analyst consensus on Avinger is a Moderate Buy with an average price target of $2.50.

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Based on Avinger’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.3 million and GAAP net loss of $4.53 million. In comparison, last year the company earned revenue of $2.41 million and had a GAAP net loss of $4.62 million.

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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.