Craig Hallum Forecasts Strong Price Appreciation for CVRx (NASDAQ:CVRX) Stock

CVRx (NASDAQ:CVRX) had its price target raised by Craig Hallum from $20.00 to $22.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s target price would suggest a potential upside of 26.29% from the stock’s current price.

CVRX has been the topic of a number of other research reports. Lake Street Capital raised their target price 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. William Blair raised CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday. Canaccord Genuity Group upped their target price on CVRx from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 price target on shares of CVRx in a research note on Wednesday, October 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

CVRx Price Performance

Shares of CVRx stock traded up $0.12 during trading on Friday, reaching $17.42. 155,363 shares of the company’s stock were exchanged, compared to its average volume of 252,263. The company has a debt-to-equity ratio of 0.76, a quick ratio of 10.23 and a current ratio of 11.32. CVRx has a 1-year low of $6.40 and a 1-year high of $29.23. The company has a market cap of $422.61 million, a P/E ratio of -6.45 and a beta of 1.26. The firm’s 50-day moving average price is $14.08 and its 200 day moving average price is $11.09.

CVRx (NASDAQ:CVRX) last issued its earnings results on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.12). The business had revenue of $13.37 million for the quarter, compared to analyst estimates of $13.28 million. CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. During the same period in the previous year, the firm posted ($0.43) EPS. As a group, research analysts anticipate that CVRx will post -2.62 earnings per share for the current year.

Institutional Trading of CVRx

A number of institutional investors have recently bought and sold shares of CVRX. SG Americas Securities LLC bought a new position in shares of CVRx in the 3rd quarter worth about $108,000. XTX Topco Ltd acquired a new stake in CVRx during the third quarter worth approximately $150,000. Rhumbline Advisers increased its holdings in CVRx by 28.8% in the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after purchasing an additional 3,863 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in CVRx in the second quarter valued at approximately $218,000. Finally, Jane Street Group LLC boosted its holdings in shares of CVRx by 36.1% during the 3rd quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock worth $168,000 after buying an additional 5,053 shares in the last quarter. Institutional investors own 75.27% of the company’s stock.

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.