Canaccord Genuity Group Boosts CVRx (NASDAQ:CVRX) Price Target to $23.00

CVRx (NASDAQ:CVRX) had its price target boosted by equities researchers at Canaccord Genuity Group from $22.00 to $23.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 56.36% from the company’s previous close.

Several other analysts also recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price objective on shares of CVRx in a research report on Wednesday, October 23rd. William Blair raised shares of CVRx from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 14th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research report on Wednesday, October 30th. Lake Street Capital raised their price objective on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Craig Hallum raised their price objective on shares of CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVRx presently has a consensus rating of “Moderate Buy” and an average target price of $17.83.

CVRx Stock Performance

CVRx stock opened at $14.71 on Wednesday. The business has a 50 day moving average of $14.70 and a 200-day moving average of $11.75. CVRx has a 1 year low of $6.40 and a 1 year high of $25.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 11.32 and a quick ratio of 10.23. The company has a market capitalization of $356.86 million, a P/E ratio of -5.45 and a beta of 1.29.

CVRx (NASDAQ:CVRX) last released its earnings results 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%. On average, equities research analysts predict that CVRx will post -2.61 earnings per share for the current year.

Hedge Funds Weigh In On CVRx

Several large investors have recently bought and sold shares of CVRX. Calamos Advisors LLC purchased a new stake in shares of CVRx during the 4th quarter valued at $134,000. SG Americas Securities LLC purchased a new position in CVRx during the 3rd quarter valued at about $108,000. XTX Topco Ltd purchased a new position in CVRx during the 3rd quarter valued at about $150,000. Dimensional Fund Advisors LP purchased a new position in CVRx during the 2nd quarter valued at about $218,000. Finally, Jane Street Group LLC grew its holdings in CVRx by 36.1% during the 3rd quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock valued at $168,000 after buying an additional 5,053 shares in the last quarter. 75.27% of the stock is currently 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.