- 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.
Ardelyx’s Partner Kyowa Kirin Wins Japanese Approval for Kidney Drug PHOZEVEL, Triggers $30M in Milestone Payments
Ardelyx, Inc. (NASDAQ:ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs, today announced that
