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

CVRx (NASDAQ:CVRX) had its target price increased by Canaccord Genuity Group from $22.00 to $23.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 41.54% from the company’s previous close.

CVRX has been the subject of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price target on shares of CVRx in a research note on Wednesday, October 23rd. William Blair raised CVRx from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 14th. Lake Street Capital lifted their price target on CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective (up previously from $13.00) on shares of CVRx in a report on Wednesday, October 30th. Finally, Craig Hallum raised their price objective on CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.

CVRx Trading Up 5.1 %

NASDAQ CVRX opened at $16.25 on Wednesday. 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 fifty-two week low of $6.40 and a fifty-two week high of $25.04. The stock has a market cap of $394.23 million, a P/E ratio of -6.02 and a beta of 1.29. The stock has a 50 day simple moving average of $14.71 and a two-hundred day simple moving average of $11.70.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate 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, analysts forecast that CVRx will post -2.61 earnings per share for the current year.

Institutional Investors Weigh In On CVRx

Several hedge funds have recently added to or reduced their stakes in the stock. Parkman Healthcare Partners LLC increased its holdings in shares of CVRx by 52.6% during the third quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock valued at $6,016,000 after acquiring an additional 235,277 shares in the last quarter. PDT Partners LLC bought a new stake in CVRx during the 3rd quarter valued at about $543,000. Marshall Wace LLP bought a new stake in CVRx during the 2nd quarter valued at about $495,000. International Assets Investment Management LLC bought a new position in shares of CVRx in the third quarter worth approximately $338,000. Finally, State Street Corp lifted its stake in shares of CVRx by 11.4% in the third quarter. State Street Corp now owns 264,733 shares of the company’s stock worth $2,332,000 after buying an additional 27,071 shares in the last quarter. 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.