Avinger Presents An Attractive Entry Point For Investors; Analyst Discusses Bull Case

H.C. Wainwright & Co. analyst Swayampakula Ramakanth initiated coverage on Avinger, Inc. (NASDAQ:AVGR) with a Buy rating and a $1.60 price target.
Ramkanth sees the company as a potential acquisition target, as it is significantly undervalued and provides "an attractive entry point" for long-term investors.
The analyst expects the company to generate top-line growth of $72 million in 2033 from $8 million in 2022, at a CAGR of 22% (2022-2033).
The company continues to add new OCT based catheters to its commercial portfolio and is expected to launch two products by the end of 2023.
Furthermore, the company's coronary CTO catheter is in the final stages of development. The analyst currently expects coronary CTO catheters to be launched in 3Q26.
If successful, the company will "complete the suite of catheters covering both peripheral and coronary vessels," the analyst notes.
Once such a complete portfolio is established in the market, Avinger could potentially be an acquisition target.
Price Action: AVGR shares are trading higher by 24.76% at $0.6082 on the last check Friday.

To add Benzinga News as your preferred source on Google, click here.