Brokerages Set CVRx, Inc. (NASDAQ:CVRX) PT at $17.00

CVRx, Inc. (NASDAQ:CVRX) has received an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $17.83.

Several brokerages have recently issued reports on CVRX. Lake Street Capital upped their price target on CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler increased their price target on CVRx from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price objective on shares of CVRx in a research note on Wednesday, October 23rd. William Blair upgraded CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 14th. Finally, Craig Hallum raised their target price on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, January 17th.

CVRx Stock Performance

CVRx stock opened at $14.71 on Friday. The stock has a 50-day simple moving average of $14.70 and a 200 day simple moving average of $11.75. The stock has a market capitalization of $356.86 million, a price-to-earnings ratio of -5.45 and a beta of 1.29. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76. CVRx has a 12-month low of $6.40 and a 12-month high of $25.03.

CVRx (NASDAQ:CVRX) last announced its earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. On average, research analysts anticipate that CVRx will post -2.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CVRx

Institutional investors have recently modified their holdings of the business. PDT Partners LLC bought a new stake in CVRx in the 3rd quarter valued at $543,000. International Assets Investment Management LLC acquired a new stake in CVRx in the 3rd quarter valued at approximately $338,000. Jane Street Group LLC boosted its position in CVRx by 36.1% during the 3rd 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 during the last quarter. Geode Capital Management LLC grew its stake in shares of CVRx by 2.2% during the 3rd 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. Finally, Barclays PLC raised its holdings in shares of 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 purchasing an additional 14,445 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.

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.