CVRx, Inc. (NASDAQ:CVRX) Receives $14.50 Average PT from Analysts

CVRx, Inc. (NASDAQ:CVRX) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $14.50.

Several analysts recently commented on CVRX shares. Lake Street Capital decreased their price target on shares of CVRx from $19.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Canaccord Genuity Group decreased their target price on shares of CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Piper Sandler dropped their price target on shares of CVRx from $20.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Craig Hallum increased their price objective on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $7.00 target price (down previously from $15.00) on shares of CVRx in a research note on Friday, May 9th.

CVRx Trading Up 14.5%

NASDAQ CVRX opened at $5.44 on Friday. The firm’s 50 day moving average price is $9.01 and its two-hundred day moving average price is $12.53. The company has a debt-to-equity ratio of 0.69, a quick ratio of 10.23 and a current ratio of 12.06. CVRx has a twelve month low of $4.30 and a twelve month high of $18.55. The stock has a market cap of $141.75 million, a price-to-earnings ratio of -2.02 and a beta of 1.39.

CVRx (NASDAQ:CVRX) last issued its earnings results on Thursday, May 8th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.03. The business had revenue of $12.35 million during the quarter, compared to analysts’ expectations of $14.68 million. CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. Equities analysts anticipate that CVRx will post -1.91 EPS for the current year.

Hedge Funds Weigh In On CVRx

Several hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC bought a new stake in shares of CVRx during the 1st quarter worth about $28,000. Tower Research Capital LLC TRC grew its holdings in CVRx by 43.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock valued at $49,000 after purchasing an additional 1,186 shares during the last quarter. GAMMA Investing LLC grew its holdings in CVRx by 1,469.3% during the first quarter. GAMMA Investing LLC now owns 4,598 shares of the company’s stock valued at $56,000 after purchasing an additional 4,305 shares during the last quarter. Quarry LP bought a new position in shares of CVRx in the fourth quarter valued at approximately $69,000. Finally, Whittier Trust Co. acquired a new stake in shares of CVRx in the first quarter worth $73,000. 75.27% of the stock is owned by institutional investors and hedge funds.

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.