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

CVRx (NASDAQ:CVRX) had its target price lifted by Piper Sandler from $16.00 to $20.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities research analysts have also weighed in on CVRX. Lake Street Capital lifted their price objective on CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price objective on shares of CVRx in a report on Wednesday, October 23rd. Canaccord Genuity Group lifted their price objective on CVRx from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. William Blair raised CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 14th. Finally, Craig Hallum lifted their price objective on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, January 17th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.83.

CVRx Trading Down 0.5 %

Shares of CVRx stock opened at $14.64 on Wednesday. CVRx has a 1 year low of $6.40 and a 1 year high of $24.75. The firm has a market cap of $355.17 million, a PE ratio of -5.42 and a beta of 1.29. The stock has a fifty day moving average price of $14.68 and a 200-day moving average price of $11.78. 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 earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share (EPS) 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%. Equities research analysts anticipate that CVRx will post -2.61 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in CVRx by 4.5% during the 4th quarter. Bank of New York Mellon Corp now owns 30,377 shares of the company’s stock valued at $385,000 after buying an additional 1,296 shares in the last quarter. Calamos Advisors LLC bought a new stake in shares of CVRx during the 4th quarter valued at about $134,000. Barclays PLC boosted its position in shares of CVRx by 312.5% during the 3rd 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 last quarter. Geode Capital Management LLC boosted its position 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 valued at $2,600,000 after acquiring an additional 6,443 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of CVRx during the 3rd quarter valued at about $150,000. Hedge funds and other 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.