CVRx (NASDAQ:CVRX) Price Target Raised to $20.00

CVRx (NASDAQ:CVRX) had its price target boosted by Piper Sandler from $16.00 to $20.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently weighed in on CVRX. William Blair upgraded CVRx from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 14th. Canaccord Genuity Group boosted their price objective on CVRx from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. Craig Hallum boosted their price objective on CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 target price on shares of CVRx in a research note on Wednesday, October 23rd. Finally, Lake Street Capital boosted their target price on CVRx from $12.00 to $15.00 and gave the company 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 issued a buy rating to the stock. According to data from MarketBeat, CVRx currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.83.

CVRx Stock Performance

NASDAQ:CVRX opened at $14.64 on Wednesday. The business has a 50 day moving average of $14.68 and a 200 day moving average of $11.78. The company has a market capitalization of $355.17 million, a price-to-earnings 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. The company has a debt-to-equity ratio of 0.76, a current ratio of 11.32 and a quick ratio of 10.23.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Tuesday, February 4th. The company reported ($0.43) earnings per share 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, sell-side analysts predict that CVRx will post -2.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVRx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parkman Healthcare Partners LLC grew its stake in CVRx by 52.6% in the third quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock worth $6,016,000 after purchasing an additional 235,277 shares during the period. Geode Capital Management LLC boosted its holdings in CVRx by 2.2% in the third quarter. Geode Capital Management LLC now owns 295,124 shares of the company’s stock worth $2,600,000 after acquiring an additional 6,443 shares in the last quarter. State Street Corp boosted its holdings in CVRx by 11.4% in the third quarter. State Street Corp now owns 264,733 shares of the company’s stock worth $2,332,000 after acquiring an additional 27,071 shares in the last quarter. PDT Partners LLC bought a new stake in CVRx in the third quarter worth $543,000. Finally, Marshall Wace LLP bought a new stake in CVRx in the second quarter worth $495,000. 75.27% of the stock is owned by hedge funds and other 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.