CVRx, Inc. (NASDAQ:CVRX) Receives $17.83 Average Target Price from Analysts

Shares of CVRx, Inc. (NASDAQ:CVRX) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $17.83.

CVRX has been the topic of several recent analyst reports. Craig Hallum increased their target price on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Canaccord Genuity Group raised their target price on shares of CVRx from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. William Blair upgraded shares of CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 14th. Finally, Piper Sandler increased their price target on shares of CVRx from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. PharVision Advisers LLC acquired a new stake in shares of CVRx in the fourth quarter worth $259,000. Two Sigma Investments LP increased its holdings in CVRx by 80.7% in the 4th quarter. Two Sigma Investments LP now owns 55,367 shares of the company’s stock valued at $702,000 after purchasing an additional 24,734 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in CVRx in the 4th quarter valued at $4,713,000. Parkman Healthcare Partners LLC raised its position in CVRx by 34.9% in the fourth quarter. Parkman Healthcare Partners LLC now owns 921,174 shares of the company’s stock valued at $11,671,000 after purchasing an additional 238,277 shares during the period. Finally, Cresset Asset Management LLC lifted its stake in shares of CVRx by 20.5% during the fourth quarter. Cresset Asset Management LLC now owns 51,102 shares of the company’s stock worth $647,000 after purchasing an additional 8,699 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

CVRx Trading Down 0.8 %

Shares of CVRX stock opened at $12.60 on Friday. The firm has a 50-day moving average price of $14.23 and a 200 day moving average price of $12.75. The company has a current ratio of 12.06, a quick ratio of 10.23 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $328.05 million, a price-to-earnings ratio of -4.68 and a beta of 1.34. CVRx has a twelve month low of $6.40 and a twelve month high of $19.24.

CVRx (NASDAQ:CVRX) last released its earnings results on Tuesday, February 4th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative return on equity of 93.06% and a negative net margin of 116.91%. Research analysts forecast that CVRx will post -1.91 earnings per share for the current fiscal year.

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.