Brokerages Set CVRx, Inc. (NASDAQ:CVRX) Target Price at $11.20

by · The Markets Daily

CVRx, Inc. (NASDAQ:CVRX – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $11.20.

Several brokerages have recently weighed in on CVRX. Canaccord Genuity Group decreased their price target on shares of CVRx from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Cantor Fitzgerald raised shares of CVRx to a “strong-buy” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CVRx in a research report on Monday, December 29th.

Check Out Our Latest Stock Analysis on CVRX

CVRx Price Performance

Shares of NASDAQ CVRX opened at $7.86 on Friday. The company has a fifty day moving average price of $6.86 and a 200 day moving average price of $8.05. The firm has a market cap of $206.80 million, a PE ratio of -3.83 and a beta of 1.28. The company has a current ratio of 7.63, a quick ratio of 6.72 and a debt-to-equity ratio of 1.26. CVRx has a 1-year low of $4.30 and a 1-year high of $13.34.

CVRx (NASDAQ:CVRX – Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). The firm had revenue of $16.02 million for the quarter, compared to analyst estimates of $15.75 million. CVRx had a negative return on equity of 99.32% and a negative net margin of 94.10%. Research analysts predict that CVRx will post -1.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mudit K. Jain purchased 46,800 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was purchased at an average cost of $6.36 per share, for a total transaction of $297,648.00. Following the completion of the purchase, the director directly owned 980,183 shares in the company, valued at $6,233,963.88. This trade represents a 5.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On CVRx

A number of institutional investors and hedge funds have recently made changes to their positions in CVRX. Corient Private Wealth LLC bought a new position in shares of CVRx in the fourth quarter valued at $81,000. Virtu Financial LLC bought a new stake in CVRx during the fourth quarter worth $79,000. XTX Topco Ltd bought a new stake in CVRx during the fourth quarter worth $90,000. Tudor Investment Corp ET AL lifted its stake in CVRx by 24.8% in the fourth quarter. Tudor Investment Corp ET AL now owns 157,260 shares of the company’s stock valued at $1,117,000 after acquiring an additional 31,200 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in CVRx by 17.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 814,943 shares of the company’s stock valued at $5,786,000 after acquiring an additional 118,683 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.

About CVRx

(Get Free Report)

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.

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