Shares of Avinger Inc. (NASDAQ:AVGR) shot up 3.6% during mid-day trading on Monday . The company traded as high as $3.86 and last traded at $3.79, with a volume of 550,792 shares trading hands. The stock had previously closed at $3.66.

A number of brokerages have issued reports on AVGR. BTIG Research reiterated a “buy” rating and issued a $6.00 price target (down from $18.00) on shares of Avinger in a report on Monday. Zacks Investment Research upgraded shares of Avinger from a “sell” rating to a “hold” rating in a report on Thursday, May 19th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Avinger in a report on Tuesday, July 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Avinger presently has an average rating of “Buy” and an average target price of $15.75.

The firm’s market cap is $48.80 million. The firm has a 50 day moving average price of $7.22 and a 200-day moving average price of $10.85.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings results on Monday, August 1st. The medical device company reported ($1.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.15) by $0.09. The firm had revenue of $4.70 million for the quarter, compared to analysts’ expectations of $3.05 million. Analysts anticipate that Avinger Inc. will post ($4.18) earnings per share for the current year.

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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