Avinger Inc. (NASDAQ:AVGR)’s share price dropped 4.7% during mid-day trading on Friday . The company traded as low as $4.37 and last traded at $4.47, with a volume of 370,509 shares. The stock had previously closed at $4.69.

AVGR has been the topic of a number of research reports. Canaccord Genuity reiterated a “buy” rating on shares of Avinger in a research report on Tuesday, July 12th. BTIG Research reiterated a “buy” rating and set a $18.00 target price on shares of Avinger in a research report on Friday, July 15th. Finally, Zacks Investment Research lowered shares of Avinger from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $15.75.

The firm has a 50 day moving average price of $6.59 and a 200-day moving average price of $10.68. The firm’s market capitalization is $55.09 million.

Avinger (NASDAQ:AVGR) last released its quarterly earnings results on Monday, August 1st. The medical device company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.09. The business had revenue of $4.70 million for the quarter, compared to the consensus estimate of $3.05 million. On average, analysts predict that Avinger Inc. will post ($4.16) EPS for the current year.

In other Avinger news, CEO Jeffrey M. Soinski purchased 57,100 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were acquired at an average cost of $3.50 per share, with a total value of $199,850.00. Following the completion of the transaction, the chief executive officer now owns 59,345 shares in the company, valued at $207,707.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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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