CVRx (NASDAQ:CVRX) Given New $20.00 Price Target at Piper Sandler

CVRx (NASDAQ:CVRX) had its price target lifted by Piper Sandler from $16.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 35.96% from the stock’s previous close.

CVRX has been the topic of a number of other research reports. William Blair raised shares of CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 14th. Lake Street Capital raised their price target on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Craig Hallum upped their price objective on shares of CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Canaccord Genuity Group raised their target price on CVRx from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $14.00 price target on shares of CVRx in a report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, CVRx has an average rating of “Moderate Buy” and an average target price of $17.83.

CVRx Stock Down 2.5 %

CVRX stock opened at $14.71 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 11.32 and a quick ratio of 10.23. The firm’s fifty day simple moving average is $14.70 and its 200-day simple moving average is $11.75. CVRx has a 12 month low of $6.40 and a 12 month high of $25.03. The company has a market capitalization of $356.86 million, a P/E ratio of -5.45 and a beta of 1.29.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. As a group, equities research analysts forecast that CVRx will post -2.61 earnings per share for the current year.

Institutional Trading of CVRx

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in CVRx in the 3rd quarter valued at about $108,000. Calamos Advisors LLC acquired a new stake in CVRx during the fourth quarter worth about $134,000. XTX Topco Ltd purchased a new position in CVRx during the third quarter worth about $150,000. Jane Street Group LLC boosted its holdings in CVRx by 36.1% in the 3rd quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock valued at $168,000 after purchasing an additional 5,053 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of CVRx by 312.5% during the 3rd quarter. Barclays PLC now owns 19,067 shares of the company’s stock worth $169,000 after buying an additional 14,445 shares during the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

CVRx Company Profile

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.