On September 18, 2023, Avinger Inc (NASDAQ:AVGR) made an exciting announcement regarding the full commercial launch of their Tigereye ST next-generation image-guided chronic total occlusion (CTO) crossing system. This news has caused a surge in AVGR shares, which are currently trading higher.
Back in April 2023, the Tigereye ST device received approval from the FDA and Avinger initiated a limited launch. However, with the full commercial launch now underway, all current and potential customers have the opportunity to order the Tigereye ST device.
What sets the Tigereye ST device apart is its impressive features. It offers high definition, real-time intravascular imaging, allowing for precise visualization during procedures. The device also boasts a user-controlled deflectable tip, which greatly enhances steerability within the lumen. Additionally, the Tigereye ST device is equipped with an enhanced distal tip configuration that enables faster rotational speeds of up to 1000 RPM, making it highly effective in penetrating challenging lesions.
One of the key advantages of the Tigereye ST device is its versatility. It can be used to treat lesions in peripheral vessels both above and below the knee. With a working length of 140 cm and 5 French sheath compatibility, the Tigereye ST device offers convenience and ease of use.
Furthermore, the Tigereye ST device complements Avinger’s existing image-guided atherectomy devices, such as the Pantheris, Pantheris LV, and Pantheris SV. This synergy allows healthcare professionals to have a comprehensive suite of tools at their disposal for effective and efficient treatment.
As of the latest update on September 18, 2023, AVGR shares have experienced a significant surge of 73.6%, currently trading at $7.17. This positive market response reflects the anticipation and confidence surrounding the Tigereye ST device and its potential impact in the medical field.
Updated on: 07/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Neutral
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Sell
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AVGR Stock Analysis: Volatility, Earnings Growth, and Revenue Concerns
On September 18, 2023, Avinger, Inc. (AVGR) experienced significant volatility in its stock performance. The stock opened at $6.30, which was a considerable increase from the previous day’s close of $4.07. Throughout the day, the stock traded within a range of $6.01 to $8.46. The trading volume reached 816,815 shares, which was higher than the average volume of 6,737 shares over the past three months. The market capitalization of AVGR stood at $3.0 million.
AVGR is a company in the health technology sector, specifically in the medical specialties industry. The company is headquartered in Redwood City, California.
In terms of earnings growth, AVGR has shown positive trends. In the last year, the company’s earnings growth was reported to be +4.63%. This year, AVGR has experienced significant growth, with earnings increasing by +98.15%. Looking ahead, the company is projected to maintain a steady growth rate of +15.00% over the next five years.
However, AVGR’s revenue growth for the previous year was -18.33%. This decline in revenue may raise concerns for investors, as it indicates a potential weakness in the company’s financial performance. It will be important for AVGR to address this issue and implement strategies to drive revenue growth in the future.
AVGR’s P/E ratio is listed as NM, which means it is not meaningful due to negative earnings. The price/sales ratio stands at 0.82, indicating that investors are paying $0.82 for every dollar of sales generated by the company. The price/book ratio is 0.52, suggesting that AVGR’s stock is undervalued relative to its book value.
On September 18, 2023, AVGR’s stock experienced a decline of -0.06, representing a -12.15% change in value. This decrease in stock price may have been influenced by several factors, including market conditions, investor sentiment, and company-specific news.
It is important to consider the overall market conditions and industry trends when analyzing a company’s stock performance. AVGR operates in the health technology sector, which has shown promising growth potential in recent years. However, the company’s negative net profit margin of -213.02% raises concerns about its profitability and financial stability.
Investors should closely monitor AVGR’s performance and financial indicators, such as revenue growth, earnings growth, and net profit margin, to make informed investment decisions. Additionally, keeping an eye on industry developments and company-specific news will provide valuable insights into AVGR’s future prospects.
AVGR Stock Shows Strong Performance and Positive Outlook: Analyst Forecasts and Consensus Buy Rating
AVGR stock had a positive performance on September 18, 2023, based on the information provided. According to CNN Money, the 1 analyst offering a 12-month price forecast for Avinger Inc has a median target of $24.00, with a high estimate of $24.00 and a low estimate of $24.00. This median estimate represents a significant increase of 254.51% from the last price of $6.77. The consensus among 1 polled investment analyst is to buy stock in Avinger Inc. This rating has remained steady since April, indicating a consistent positive outlook on the company’s performance. Avinger Inc reported an earnings per share of -$0.22 for the current quarter. This indicates a loss for the company during this period. Avinger Inc also reported sales of $2.5 million for the current quarter. Investors should keep an eye on Avinger Inc’s upcoming reporting date, which is November 8th. Overall, based on the analyst forecasts and the consensus buy rating, there is a positive sentiment towards AVGR stock. However, investors should conduct further research and consider their own risk tolerance before making any investment decisions. It is always advisable to consult with a financial advisor or professional before investing in the stock market.