Piper Sandler Cuts CVRx (NASDAQ:CVRX) Price Target to $12.00

CVRx (NASDAQ:CVRX) had its price target decreased by Piper Sandler from $20.00 to $12.00 in a research note issued to investors on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other analysts also recently commented on CVRX. Lake Street Capital decreased their price target on CVRx from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Canaccord Genuity Group decreased their price target on CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Craig Hallum raised their target price on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. William Blair raised CVRx from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $7.00 target price (down from $15.00) on shares of CVRx in a research report on Friday. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.50.

CVRx Stock Down 39.6%

CVRX stock opened at $4.70 on Friday. CVRx has a twelve month low of $4.61 and a twelve month high of $18.55. The company has a quick ratio of 10.23, a current ratio of 12.06 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average is $9.29 and its 200-day moving average is $12.62. The firm has a market capitalization of $122.47 million, a PE ratio of -1.75 and a beta of 1.39.

CVRx (NASDAQ:CVRX) last posted its earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.03. The company had revenue of $12.35 million for the quarter, compared to analyst estimates of $14.68 million. CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. Sell-side analysts expect that CVRx will post -1.91 EPS for the current fiscal year.

Hedge Funds Weigh In On CVRx

A number of large investors have recently made changes to their positions in CVRX. Larson Financial Group LLC bought a new position in shares of CVRx in the first quarter worth $28,000. Tower Research Capital LLC TRC boosted its holdings in shares of CVRx by 43.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock worth $49,000 after acquiring an additional 1,186 shares during the period. GAMMA Investing LLC boosted its holdings in shares of CVRx by 1,469.3% in the first quarter. GAMMA Investing LLC now owns 4,598 shares of the company’s stock worth $56,000 after acquiring an additional 4,305 shares during the period. Quarry LP bought a new position in shares of CVRx in the fourth quarter worth $69,000. Finally, Whittier Trust Co. bought a new position in shares of CVRx in the first quarter worth $73,000. 75.27% of the stock is owned by institutional investors.

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.