CVRx, Inc. (NASDAQ:CVRX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of CVRx, Inc. (NASDAQ:CVRX) have been given an average rating of “Moderate Buy” by the seven analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $16.67.

CVRX has been the subject of several research reports. Craig Hallum increased their price target on shares of CVRx from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 target price on shares of CVRx in a research report on Wednesday, October 23rd. Lake Street Capital lifted their price target on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $16.00 price objective (up from $13.00) on shares of CVRx in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their target price on CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, December 9th.

CVRx Trading Up 0.4 %

NASDAQ:CVRX opened at $13.64 on Monday. CVRx has a 52 week low of $6.40 and a 52 week high of $30.63. The firm has a 50-day moving average price of $13.83 and a two-hundred day moving average price of $10.84. The company has a debt-to-equity ratio of 0.76, a quick ratio of 10.23 and a current ratio of 11.32. The firm has a market cap of $330.96 million, a price-to-earnings ratio of -5.05 and a beta of 1.20.

CVRx (NASDAQ:CVRX) last released its earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.12). The business had revenue of $13.37 million during the quarter, compared to the consensus estimate of $13.28 million. CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. During the same period in the prior year, the company earned ($0.43) earnings per share. On average, equities analysts expect that CVRx will post -2.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CVRx

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in CVRx during the 3rd quarter worth about $108,000. XTX Topco Ltd bought a new stake in shares of CVRx during the third quarter valued at about $150,000. 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 worth $168,000 after buying an additional 5,053 shares in the last quarter. Barclays PLC boosted its position in shares of CVRx by 312.5% in the third quarter. Barclays PLC now owns 19,067 shares of the company’s stock valued at $169,000 after acquiring an additional 14,445 shares during the period. Finally, Centiva Capital LP purchased a new position in CVRx during the third quarter valued at approximately $178,000. 75.27% of the stock is owned by institutional investors.

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.