Lake Street Capital Lowers CVRx (NASDAQ:CVRX) Price Target to $12.00

CVRx (NASDAQ:CVRX) had its target price decreased by Lake Street Capital from $18.00 to $12.00 in a report issued on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price objective suggests a potential upside of 23.46% from the company’s previous close.

CVRX has been the topic of a number of other research reports. William Blair downgraded CVRx from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Canaccord Genuity Group decreased their target price on CVRx from $32.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Piper Sandler decreased their target price on CVRx from $33.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Craig Hallum assumed coverage on CVRx in a research report on Wednesday, May 1st. They set a “buy” rating and a $23.00 target price for the company. Finally, JPMorgan Chase & Co. cut CVRx from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $13.00 in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.80.

CVRx Price Performance

NASDAQ CVRX opened at $9.72 on Thursday. The stock’s 50-day moving average price is $9.28 and its two-hundred day moving average price is $17.53. The company has a current ratio of 12.18, a quick ratio of 10.87 and a debt-to-equity ratio of 0.44. The company has a market cap of $209.91 million, a PE ratio of -3.94 and a beta of 1.27. CVRx has a 1 year low of $6.40 and a 1 year high of $33.13.

CVRx (NASDAQ:CVRX) last issued its earnings results on Tuesday, April 30th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.51). CVRx had a negative net margin of 123.58% and a negative return on equity of 66.05%. The business had revenue of $10.77 million during the quarter, compared to analyst estimates of $11.60 million. On average, analysts predict that CVRx will post -2.39 EPS for the current year.

Institutional Trading of CVRx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. bought a new position in CVRx in the fourth quarter valued at about $102,000. Valeo Financial Advisors LLC bought a new position in CVRx in the first quarter valued at about $346,000. FourWorld Capital Management LLC bought a new position in CVRx in the first quarter valued at about $374,000. Trexquant Investment LP bought a new position in CVRx in the fourth quarter valued at about $426,000. Finally, Jump Financial LLC bought a new position in CVRx in the fourth quarter valued at about $499,000. 75.27% of the stock is currently 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.