CVRx, Inc. (NASDAQ:CVRX) Receives $16.67 Consensus Price Target from Analysts

Shares of CVRx, Inc. (NASDAQ:CVRX) have received an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.67.

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

Institutional Trading of CVRx

A number of institutional investors have recently modified their holdings of the stock. Parkman Healthcare Partners LLC grew its stake in CVRx by 52.6% during the third quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock worth $6,016,000 after buying an additional 235,277 shares in the last quarter. PDT Partners LLC bought a new stake in CVRx during the third quarter worth $543,000. Marshall Wace LLP bought a new position in shares of CVRx in the 2nd quarter valued at $495,000. International Assets Investment Management LLC bought a new stake in shares of CVRx during the 3rd quarter worth $338,000. Finally, State Street Corp boosted its stake in CVRx by 11.4% in the third quarter. State Street Corp now owns 264,733 shares of the company’s stock valued at $2,332,000 after buying an additional 27,071 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors.

CVRx Price Performance

NASDAQ:CVRX opened at $14.17 on Monday. CVRx has a 1 year low of $6.40 and a 1 year high of $29.23. 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 stock has a market cap of $343.82 million, a price-to-earnings ratio of -5.25 and a beta of 1.26. The stock has a 50-day moving average price of $14.00 and a two-hundred day moving average price of $10.95.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. The company had revenue of $13.37 million during the quarter, compared to the consensus estimate of $13.28 million. During the same period in the previous year, the firm posted ($0.43) EPS. As a group, equities analysts expect that CVRx will post -2.62 earnings per share for the current year.

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.