Avinger, Inc. (AVGR)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Avinger, Inc. (AVGR) trades at $0.47 with AI Score 46/100 (Grade C). Avinger, Inc. is a commercial-stage medical device company focused on treating peripheral arterial disease (PAD). Market cap: $1.52M, Sector: Healthcare.
Price live · AI analysis from Mar 15, 2026Analyst Coverage for AVGR: AVGR does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates AVGR against Healthcare peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
AVGR: the 1 perspectives are evenly split.
How is this calculated? →Avinger, Inc. (AVGR) Healthcare & Pipeline Overview
Avinger, Inc. specializes in image-guided, catheter-based systems for treating peripheral arterial disease (PAD). Their lumivascular platform, featuring real-time intravascular imaging, differentiates them in the medical device market. They cater to interventional cardiologists, vascular surgeons, and interventional radiologists in the United States and internationally.
What Is the Investment Thesis for AVGR?
Avinger, Inc. operates in the growing market for PAD treatment, offering a differentiated technology platform with its lumivascular imaging. Key value drivers include the adoption of its Pantheris and Ocelot catheters, as well as the potential success of its IMAGE-BTK product. The company's small size and negative profit margin of -239.4% present significant risks. Growth catalysts include expanding its sales network and securing favorable reimbursement policies. Investors should closely monitor Avinger's ability to increase revenue, manage costs, and achieve profitability in the competitive medical device landscape. The company's beta of 1.09 suggests a market-correlated risk profile.
Based on FMP financials and quantitative analysis
AVGR Key Highlights
- Avinger's lumivascular platform integrates OCT imaging with interventional catheters for real-time visualization during PAD procedures.
- The company's product portfolio includes Ocelot catheters for penetrating total blockages and Pantheris for precise plaque removal.
- Avinger markets its products to interventional cardiologists, vascular surgeons, and interventional radiologists.
- The company's gross margin stands at 26.2%.
- Avinger has a negative profit margin of -239.4%.
Who Are AVGR's Competitors?
AVGR is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| ASLN ASLN | $0.60 | -14.27% | $777.12M | 56 |
| NYXH Nyxoah S.A. | $1.72 | -3.37% | $68.12M | 69 |
| KMTS Kestra Medical Technologies, Ltd. | $26.98 | +2.66% | $1.57B | 67 |
| ZTEK Zentek Ltd. | $0.45 | -3.63% | $48.50M | 63 |
| OMIC Singular Genomics Systems, Inc. | $20.01 | +0.00% | $50.77M | 61 |
| SSSGY Sartorius AG | $43.93 | +0.00% | $15.17B | 51 |
| ALC Alcon Inc. | $69.66 | +4.25% | $33.97B | 51 |
| TRUMY Terumo Corporation | $13.71 | +3.63% | $20.22B | 51 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are AVGR's Key Strengths?
- Proprietary lumivascular platform with real-time imaging capabilities.
- Specialized product portfolio targeting PAD treatment.
- Focus on image-guided technology for enhanced precision.
- Established relationships with key opinion leaders in the field.
What Are AVGR's Weaknesses?
- Limited financial resources and negative profit margin.
- Small market capitalization and potential liquidity concerns.
- Dependence on a limited number of products.
- Intense competition in the medical device industry.
What Could Drive AVGR Stock Higher?
- Potential FDA approval and commercial launch of IMAGE-BTK for below-the-knee PAD lesions.
- Continued expansion of the sales network and increased adoption of Pantheris.
- Positive clinical trial results demonstrating the efficacy of Avinger's products.
What Are the Key Risks for AVGR?
- Financial-distress signal — its Altman Z-Score of -48.15 sits in the distress zone (elevated bankruptcy risk).
- Competition from larger medical device companies with greater resources.
- Unfavorable reimbursement policies impacting the adoption of Avinger's products.
- Limited financial resources and the need to raise additional capital.
- Product liability claims and regulatory scrutiny.
What Are the Growth Opportunities for AVGR?
- Expansion of IMAGE-BTK Product Line: Avinger is developing IMAGE-BTK for below-the-knee PAD lesions. This represents a significant growth opportunity as BTK interventions are a critical area within PAD treatment. Successful development and commercialization of IMAGE-BTK could expand Avinger's addressable market and drive revenue growth. The market for BTK interventions is expected to grow as the prevalence of critical limb ischemia (CLI) increases.
- Geographic Expansion: Avinger currently operates in the United States and internationally. Expanding its geographic footprint into new markets, particularly in Europe and Asia, could significantly increase its revenue potential. These regions have growing aging populations and increasing awareness of PAD, creating a favorable environment for Avinger's products. Strategic partnerships and distribution agreements will be crucial for successful geographic expansion.
- Increased Adoption of Pantheris Atherectomy Device: Pantheris is Avinger's image-guided atherectomy device. Increasing its adoption among interventional cardiologists, vascular surgeons, and interventional radiologists is a key growth driver. This can be achieved through targeted marketing efforts, clinical studies demonstrating improved outcomes, and training programs for physicians. The atherectomy device market is growing, driven by the need for less invasive PAD treatment options.
- Strategic Partnerships and Acquisitions: Avinger could pursue strategic partnerships or acquisitions to expand its product portfolio, access new technologies, or enter new markets. Collaborating with other medical device companies or research institutions could accelerate innovation and drive growth. Acquisitions could provide Avinger with complementary products or access to new customer segments.
- Development of Next-Generation Lumivascular Technology: Avinger should continue to invest in research and development to enhance its lumivascular platform and develop next-generation technologies. This could include improving imaging resolution, developing new catheter designs, or expanding the applications of its technology to other vascular diseases. Innovation is crucial for maintaining a competitive edge in the medical device industry.
What Opportunities Does AVGR Have?
- Expansion into new geographic markets.
- Development of next-generation lumivascular technology.
- Increased adoption of Pantheris atherectomy device.
- Strategic partnerships and acquisitions.
What Threats Does AVGR Face?
- Competition from larger medical device companies.
- Technological obsolescence.
- Unfavorable reimbursement policies.
- Product liability claims.
What Are AVGR's Competitive Advantages?
- Proprietary lumivascular platform integrating OCT visualization with interventional catheters.
- Image-guided technology providing real-time intravascular imaging during PAD procedures.
- Specialized product portfolio targeting specific PAD treatment needs.
What Does AVGR Do?
Avinger, Inc., established in 2007 and headquartered in Redwood City, California, is a medical device company dedicated to developing and commercializing innovative solutions for treating peripheral arterial disease (PAD). The company's core technology is its lumivascular platform, which combines optical coherence tomography (OCT) visualization with interventional catheters. This integration provides physicians with real-time intravascular imaging during PAD procedures, enhancing precision and improving patient outcomes. Avinger's product portfolio includes the Lightbox imaging consoles, the Ocelot family of catheters designed to penetrate total blockages in arteries, and Pantheris, an image-guided atherectomy device for precise removal of arterial plaque. Additionally, Avinger offers first-generation chronic total occlusion (CTO)-crossing catheters, Wildcat and Kittycat 2, utilizing a rotational spinning technique for navigating CTOs. The company is also developing IMAGE-BTK for treating PAD lesions below-the-knee. Avinger markets its products to interventional cardiologists, vascular surgeons, and interventional radiologists in the United States and internationally, aiming to establish itself as a leader in the image-guided PAD treatment market.
What Products and Services Does AVGR Offer?
- Designs image-guided, catheter-based systems for treating peripheral arterial disease (PAD).
- Manufactures and sells the Lightbox imaging consoles.
- Develops and markets the Ocelot family of catheters for penetrating arterial blockages.
- Offers the Pantheris image-guided atherectomy device for removing arterial plaque.
- Provides Wildcat and Kittycat 2 CTO-crossing catheters.
- Developing IMAGE-BTK for treating PAD lesions below-the-knee.
How Does AVGR Make Money?
- Avinger generates revenue through the sale of its lumivascular products, including Lightbox imaging consoles and catheters.
- The company targets interventional cardiologists, vascular surgeons, and interventional radiologists.
- Avinger markets and sells its products in the United States and internationally.
What Industry Does AVGR Operate In?
Avinger operates within the medical device industry, specifically targeting the peripheral arterial disease (PAD) treatment market. This market is driven by the increasing prevalence of PAD due to aging populations and rising rates of diabetes and obesity. The competitive landscape includes larger medical device companies with established market presence, as well as smaller, specialized players. Avinger's lumivascular technology aims to differentiate it from competitors by providing real-time imaging during procedures, potentially leading to improved outcomes and market share gains.
Who Are AVGR's Key Customers?
- Interventional cardiologists
- Vascular surgeons
- Interventional radiologists
Net buyingInsider Activity
The most recent 10 insider filings for Avinger, Inc. break down as 5 sales and 5 purchases. On net that is roughly 142K shares acquired (about $159K) — insiders putting money in tends to read as conviction.
FY2026 estForward Outlook
Wall Street analysts project Avinger, Inc. revenue of about $17.8M for fiscal 2026, with EPS near $-0.74.
F-Score 4/9Financial Health
Avinger, Inc.'s Piotroski F-Score is 4/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of -48.15 places it in the distress zone, a signal of elevated financial risk.
Avinger, Inc. (AVGR) Valuation Context
Valued at $1.52M, AVGR is classified as a micro-cap stock. Relative to its peer group, AVGR's quantitative score of 46/100 is below the peer average of 63/100.
AVGR Revenue & Earnings Trend
In Q3 2024, AVGR generated $1.6M in top-line revenue, marking a sequential decrease of 10.7%. The company recorded a net loss of $3.7M, with diluted EPS of $-1.82. Revenue has contracted over three consecutive quarters, which investors in this micro-cap Healthcare stock should monitor closely.
Company Profile
Avinger, Inc. operates in the Medical - Instruments & Supplies industry within the Healthcare sector. It is headquartered in Redwood City, US. The company is led by CEO Nabeel P. Subainati CPA. AVGR has traded publicly since 2015.
AVGR Financials
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in Avinger's prospects, mirroring situations like when insiders loaded up on Tesla before its 2020 surge.
- The social trading community shows growing optimism about Avinger's strategic direction, indicating a shift in market perception.
- Avinger's innovative approach to treating peripheral artery disease is gaining traction, potentially disrupting the market like Intuitive Surgical did with robotic surgery.
- Positive community buzz around Avinger's latest product launch signals potential revenue growth, reminiscent of early excitement around Beyond Meat's initial offerings.
Bear Case
- The medical device market is highly competitive, and Avinger faces established players, similar to how smaller electric vehicle companies struggle against Tesla.
- Negative sentiment spikes in the community regarding Avinger's marketing effectiveness raise concerns about brand visibility.
- Avinger's reliance on specialized procedures makes it vulnerable to changes in healthcare policies, much like solar companies' sensitivity to government subsidies.
- Skeptical community voices question Avinger’s ability to scale production efficiently, echoing concerns faced by many biotech startups.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2024 | $2M | -$4M | -$1.82 |
| Q2 2024 | $2M | -$4M | -$2.67 |
| Q1 2024 | $2M | -$6M | -$3.74 |
Based on FMP financials and quantitative analysis
AVGR Latest News
No recent news available for AVGR.
AVGR Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for AVGR.
Price Targets
Wall Street price target analysis for AVGR.
AVGR MoonshotScore
What does this score mean?
The MoonshotScore rates AVGR's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Nabeel P. Subainati CPA
CEO
Nabeel P. Subainati is the Chief Executive Officer of Avinger, Inc. He is a Certified Public Accountant (CPA). His background includes experience in financial management and leadership roles. He brings financial expertise to the company's strategic decision-making processes. He is responsible for overseeing the company's operations, financial performance, and strategic direction. His CPA certification indicates a strong understanding of accounting principles and financial reporting.
Track Record: Since becoming CEO, Nabeel P. Subainati has focused on driving revenue growth and improving operational efficiency. He has overseen the development and commercialization of new products, including IMAGE-BTK. He is managing a team of 68 employees. His leadership is focused on navigating the challenges of the competitive medical device market.
Common Questions About AVGR (Healthcare)
What does Avinger, Inc. do?
Avinger, Inc. is a medical device company that designs, manufactures, and sells image-guided, catheter-based systems for treating peripheral arterial disease (PAD). Their core technology is the lumivascular platform, which integrates optical coherence tomography (OCT) visualization with interventional catheters. This allows physicians to see inside arteries in real-time during PAD procedures. The company's products include Lightbox imaging consoles, Ocelot catheters for penetrating blockages, and Pantheris for removing plaque. Avinger's goal is to improve outcomes for patients with PAD through innovative, image-guided solutions.
What are the main risks for AVGR?
Avinger faces several risks, including competition from larger medical device companies with greater resources, the need to raise additional capital to fund operations, and the potential for unfavorable reimbursement policies. Technological obsolescence is also a risk, as new and improved PAD treatment options may emerge. Product liability claims and regulatory scrutiny are ongoing concerns for medical device companies. Avinger's limited financial resources and dependence on a small number of products increase its vulnerability to these risks.
How does Avinger, Inc. manage patent expiration risks?
As a medical device company, Avinger, Inc. must actively manage the lifecycle of its intellectual property. While specific patent details are not provided, the company likely employs strategies to extend market exclusivity. These strategies include filing continuation applications, developing next-generation products with new patents, and pursuing design or process patents to protect manufacturing methods. Avinger must also monitor competitor activity and be prepared to defend its patents against infringement challenges. The success of these strategies is crucial for maintaining a competitive advantage and protecting revenue streams.
What are the key growth opportunities for AVGR in healthcare?
Avinger, Inc.'s growth opportunities in healthcare are centered around expanding its presence in the PAD treatment market. This includes increasing the adoption of its existing products, such as Pantheris and Ocelot, and successfully launching new products like IMAGE-BTK. Geographic expansion into new markets, particularly in Europe and Asia, also presents a significant opportunity. Furthermore, Avinger could explore strategic partnerships or acquisitions to broaden its product portfolio and access new technologies. Continued innovation and development of next-generation lumivascular technology are essential for long-term growth.
What are the key factors to evaluate for AVGR?
Avinger, Inc. (AVGR) holds an AI score of 46/100 (low). Not financial advice.
How frequently does AVGR data refresh on this page?
AVGR prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven AVGR's recent stock price performance?
Avinger, Inc. (AVGR) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Proprietary lumivascular platform with real-time imaging capabilities. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider AVGR overvalued or undervalued right now?
Valuing Avinger, Inc. (AVGR) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- AI analysis pending for AVGR, limiting the depth of financial insights.
- Information is based on available data as of 2026-03-15.