CVRx (NASDAQ:CVRX) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of CVRx (NASDAQ:CVRX) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other research analysts have also recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of CVRx in a report on Monday, December 29th. Canaccord Genuity Group reduced their target price on CVRx from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, CVRx presently has an average rating of “Moderate Buy” and a consensus target price of $11.20.

CVRx Stock Down 4.2%

NASDAQ CVRX opened at $4.74 on Tuesday. The company has a market capitalization of $124.24 million, a P/E ratio of -2.31 and a beta of 1.31. CVRx has a 52 week low of $4.30 and a 52 week high of $15.36. The stock’s 50-day moving average price is $7.01 and its 200-day moving average price is $8.04. The company has a quick ratio of 8.60, a current ratio of 9.62 and a debt-to-equity ratio of 1.03.

CVRx (NASDAQ:CVRX) last released its earnings results on Thursday, February 12th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). The company had revenue of $16.02 million during the quarter, compared to analysts’ expectations of $15.75 million. CVRx had a negative return on equity of 91.20% and a negative net margin of 94.10%. On average, equities research analysts predict that CVRx will post -1.91 earnings per share for the current year.

Hedge Funds Weigh In On CVRx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mount Lucas Management LP purchased a new stake in CVRx in the 2nd quarter valued at $30,000. Larson Financial Group LLC grew its stake in CVRx by 155.6% in the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock valued at $39,000 after acquiring an additional 3,303 shares during the last quarter. Intech Investment Management LLC purchased a new position in CVRx during the second quarter worth $59,000. R Squared Ltd acquired a new position in shares of CVRx in the fourth quarter valued at approximately $74,000. Finally, AlphaQuest LLC boosted its position in shares of CVRx by 114.6% in the second quarter. AlphaQuest LLC now owns 13,106 shares of the company’s stock worth $77,000 after acquiring an additional 6,998 shares during the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

CVRx Company Profile

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.