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

by · The Markets Daily

CVRx (NASDAQ:CVRX – Free Report) had its price objective hoisted by Craig Hallum from $15.00 to $20.00 in a report published on Monday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Piper Sandler reiterated an “overweight” rating and issued a $16.00 target price (up from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. Lake Street Capital boosted their price target on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on shares of CVRx from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 target price on shares of CVRx in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, CVRx presently has an average rating of “Moderate Buy” and an average price target of $15.83.

View Our Latest Stock Report on CVRx

CVRx Price Performance

CVRx stock opened at $15.42 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 8.85 and a current ratio of 10.08. The stock has a market cap of $336.00 million, a PE ratio of -5.71 and a beta of 1.16. CVRx has a fifty-two week low of $6.40 and a fifty-two week high of $33.13. The firm’s 50-day simple moving average is $9.37 and its 200 day simple moving average is $9.50.

CVRx (NASDAQ:CVRX – Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). The company had revenue of $13.37 million during the quarter, compared to analysts’ expectations of $13.28 million. CVRx had a negative net margin of 123.75% and a negative return on equity of 88.85%. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. Research analysts predict that CVRx will post -2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On CVRx

Institutional investors have recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC boosted its position in CVRx by 70.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock valued at $4,625,000 after buying an additional 105,198 shares during the period. Vanguard Group Inc. boosted its position in CVRx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock valued at $10,822,000 after buying an additional 31,720 shares during the period. Bank of New York Mellon Corp boosted its position in CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after buying an additional 8,741 shares during the period. International Assets Investment Management LLC purchased a new stake in CVRx during the 3rd quarter valued at $338,000. Finally, Dimensional Fund Advisors LP purchased a new stake in CVRx during the 2nd quarter valued at $218,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

CVRx Company Profile

(Get Free Report)

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.

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