H.C. Wainwright initiated coverage of Avinger with a Buy rating and $1.60 price target. Avinger is a commercial medical device company that develops and commercializes interventional catheters based on optical coherence tomography, that allows for real-time intravascular imaging to aid in removal of arterial plaques and chronic total occlusions in peripheral arterial disease patients, the analyst tells investors in a research note. The analyst believes the company, with potential to generate sales growth from 2023 and beyond as well as be an acquisition target, is "significantly undervalued and provides an attractive entry point for long-term investors."
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