Brokerages Set CVRx, Inc. (NASDAQ:CVRX) PT at $17.00

Shares of CVRx, Inc. (NASDAQ:CVRX) have been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $17.00.

Several research analysts have recently issued reports on CVRX shares. Lake Street Capital increased their price objective on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price target on shares of CVRx in a research report on Wednesday, October 23rd. Canaccord Genuity Group upped their price objective on CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price (up previously from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. Finally, Craig Hallum upped their price target on shares of CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, January 17th.

CVRx Stock Up 5.1 %

CVRX opened at $16.25 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 11.32 and a quick ratio of 10.23. CVRx has a 12 month low of $6.40 and a 12 month high of $25.04. The stock’s 50 day moving average price is $14.71 and its 200 day moving average price is $11.70. The stock has a market cap of $394.29 million, a P/E ratio of -6.02 and a beta of 1.29.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Tuesday, February 4th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. As a group, research analysts predict that CVRx will post -2.61 earnings per share for the current year.

Hedge Funds Weigh In On CVRx

Institutional investors have recently bought and sold shares of the stock. Calamos Advisors LLC acquired a new position in shares of CVRx in the fourth quarter worth about $134,000. SG Americas Securities LLC acquired a new position in CVRx in the 3rd quarter worth approximately $108,000. XTX Topco Ltd purchased a new position in CVRx during the 3rd quarter worth approximately $150,000. Dimensional Fund Advisors LP acquired a new stake in CVRx during the 2nd quarter valued at $218,000. Finally, Jane Street Group LLC lifted its holdings in shares of CVRx by 36.1% in the third quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock valued at $168,000 after purchasing an additional 5,053 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

CVRx Company Profile

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.