Analysts Set CVRx, Inc. (NASDAQ:CVRX) Price Target at $16.67

Shares of CVRx, Inc. (NASDAQ:CVRX) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $16.67.

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

Institutional Trading of CVRx

A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in CVRx in the 3rd quarter valued at $108,000. XTX Topco Ltd purchased a new stake in shares of CVRx in the third quarter worth $150,000. Rhumbline Advisers boosted its stake 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 buying an additional 3,863 shares during the period. Dimensional Fund Advisors LP purchased a new position in CVRx during the second quarter worth about $218,000. Finally, Jane Street Group LLC increased its stake in CVRx by 36.1% in the 3rd quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock worth $168,000 after acquiring an additional 5,053 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

CVRx Stock Performance

Shares of CVRx stock opened at $14.17 on Monday. The firm has a market capitalization of $343.82 million, a P/E ratio of -5.25 and a beta of 1.26. The company has a current ratio of 11.32, a quick ratio of 10.23 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $13.96 and its 200 day simple moving average is $10.90. CVRx has a 12 month low of $6.40 and a 12 month high of $29.23.

CVRx (NASDAQ:CVRX) last released its earnings results on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). The business had revenue of $13.37 million for 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 quarter in the previous year, the firm earned ($0.43) earnings per share. As a group, analysts anticipate that CVRx will post -2.62 EPS for the current year.

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.