CVRx (NASDAQ:CVRX) Price Target Raised to $23.00

CVRx (NASDAQ:CVRX) had its price objective increased by Canaccord Genuity Group from $22.00 to $23.00 in a research note published on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 target price on shares of CVRx in a research note 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. Craig Hallum boosted their target price on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. 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 investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.83.

CVRx Stock Performance

Shares of CVRX opened at $14.64 on Wednesday. The stock has a 50-day simple moving average of $14.68 and a 200-day simple moving average of $11.78. The company has a debt-to-equity ratio of 0.76, a quick ratio of 10.23 and a current ratio of 11.32. The stock has a market capitalization of $355.17 million, a PE ratio of -5.42 and a beta of 1.29. CVRx has a 1 year low of $6.40 and a 1 year high of $24.75.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PDT Partners LLC acquired a new position in CVRx during the third quarter worth approximately $543,000. International Assets Investment Management LLC acquired a new position in CVRx during the third quarter worth approximately $338,000. Barclays PLC increased its position in CVRx by 312.5% during the third 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 period. Jane Street Group LLC increased its position in CVRx by 36.1% during the third quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock worth $168,000 after buying an additional 5,053 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of CVRx by 2.2% in the third quarter. Geode Capital Management LLC now owns 295,124 shares of the company’s stock valued at $2,600,000 after purchasing an additional 6,443 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.