CVRx (NASDAQ:CVRX) Price Target Raised to $22.00

CVRx (NASDAQ:CVRX) had its price objective lifted by Craig Hallum from $20.00 to $22.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on CVRX. Canaccord Genuity Group boosted their price target on CVRx from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler reissued an “overweight” rating and issued a $16.00 price target (up from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price target on shares of CVRx in a research report on Wednesday, October 23rd. William Blair upgraded CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 14th. Finally, Lake Street Capital boosted their target price on CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

CVRx Trading Up 1.8 %

Shares of NASDAQ CVRX opened at $17.62 on Friday. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $14.12 and a two-hundred day simple moving average of $11.12. The firm has a market cap of $427.46 million, a PE ratio of -6.53 and a beta of 1.26. CVRx has a twelve month low of $6.40 and a twelve month high of $29.23.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.12). The company had revenue of $13.37 million during the quarter, compared to the consensus estimate of $13.28 million. CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. During the same period in the previous year, the firm posted ($0.43) earnings per share. Analysts expect that CVRx will post -2.62 earnings per share for the current fiscal year.

Institutional Trading of CVRx

Several large investors have recently added to or reduced their stakes in CVRX. Parkman Healthcare Partners LLC grew its stake in CVRx by 52.6% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock valued at $6,016,000 after purchasing an additional 235,277 shares during the last quarter. PDT Partners LLC purchased a new stake in CVRx during the 3rd quarter valued at about $543,000. Marshall Wace LLP purchased a new stake in CVRx during the 2nd quarter valued at about $495,000. International Assets Investment Management LLC purchased a new stake in CVRx during the 3rd quarter valued at about $338,000. Finally, State Street Corp grew its stake in CVRx by 11.4% during the 3rd quarter. State Street Corp now owns 264,733 shares of the company’s stock valued at $2,332,000 after purchasing an additional 27,071 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.