Analysts Set CVRx, Inc. (NASDAQ:CVRX) Price Target at $15.83

Shares of CVRx, Inc. (NASDAQ:CVRX) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $15.83.

Several research firms have commented on CVRX. Canaccord Genuity Group lifted their price target on CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Lake Street Capital increased their price target 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. Craig Hallum lifted their price objective on shares of CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 target price on shares of CVRx in a research note on Wednesday, October 23rd. 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 report on Wednesday, October 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in CVRx in the 3rd quarter valued at approximately $108,000. XTX Topco Ltd acquired a new position in CVRx during the third quarter worth $150,000. Jane Street Group LLC raised its position in CVRx by 36.1% in the third quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock worth $168,000 after acquiring an additional 5,053 shares in the last quarter. Barclays PLC lifted its holdings in CVRx by 312.5% in the third quarter. Barclays PLC now owns 19,067 shares of the company’s stock valued at $169,000 after acquiring an additional 14,445 shares during the period. Finally, Centiva Capital LP purchased a new stake in shares of CVRx during the 3rd quarter worth $178,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

CVRx Stock Up 0.5 %

CVRX stock opened at $14.85 on Friday. The company’s 50 day moving average is $10.90 and its two-hundred day moving average is $9.73. CVRx has a twelve month low of $6.40 and a twelve month high of $33.13. 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 $360.26 million, a P/E ratio of -5.50 and a beta of 1.16.

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). The company had revenue of $13.37 million during the quarter, compared to analysts’ expectations of $13.28 million. CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. During the same period last year, the firm earned ($0.43) earnings per share. Research analysts expect that CVRx will post -2.62 earnings per share for the current fiscal 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.