CVRx, Inc. (NASDAQ:CVRX) Receives $16.67 Consensus Target Price from Analysts

CVRx, Inc. (NASDAQ:CVRX) has received an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $16.67.

Several brokerages recently commented on CVRX. Canaccord Genuity Group lifted their target price on shares of CVRx from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 target price on shares of CVRx in a research note on Wednesday, October 23rd. Craig Hallum lifted their price target on CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Piper Sandler reissued an “overweight” rating and set a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Finally, Lake Street Capital upped their target price on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th.

CVRx Trading Down 4.3 %

Shares of CVRX opened at $12.83 on Thursday. CVRx has a fifty-two week low of $6.40 and a fifty-two week high of $33.13. The firm has a market cap of $311.31 million, a price-to-earnings ratio of -4.75 and a beta of 1.20. The firm has a 50 day moving average price of $12.60 and a 200-day moving average price of $10.42. The company has a debt-to-equity ratio of 0.76, a quick ratio of 10.23 and a current ratio of 11.32.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.12). The business had revenue of $13.37 million for the quarter, compared to analysts’ expectations of $13.28 million. CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. During the same quarter in the previous year, the company earned ($0.43) earnings per share. As a group, equities research analysts forecast that CVRx will post -2.62 earnings per share for the current year.

Hedge Funds Weigh In On CVRx

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in CVRx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after acquiring an additional 31,720 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of CVRx by 30.7% during the second quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after purchasing an additional 8,741 shares during the last quarter. Rhumbline Advisers lifted its position in CVRx by 28.8% during the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock valued at $207,000 after purchasing an additional 3,863 shares during the period. Dimensional Fund Advisors LP purchased a new stake in CVRx in the second quarter worth approximately $218,000. Finally, Marshall Wace LLP bought a new stake in CVRx in the 2nd quarter worth approximately $495,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

About CVRx

CVRx, Inc, a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. The company offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction or systolic heart failure.