CVRx (NASDAQ:CVRX) Price Target Raised to $20.00 at Craig Hallum

CVRx (NASDAQ:CVRX) had its price target hoisted by research analysts at Craig Hallum from $15.00 to $20.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price target would indicate a potential upside of 32.54% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $14.00 price target on shares of CVRx in a report on Wednesday, October 23rd. Lake Street Capital boosted their price objective on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on shares of CVRx from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $16.00 price objective (up from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.83.

CVRx Price Performance

Shares of CVRX traded up $1.69 during midday trading on Monday, hitting $15.09. The company’s stock had a trading volume of 816,116 shares, compared to its average volume of 275,427. The company has a quick ratio of 8.85, a current ratio of 10.08 and a debt-to-equity ratio of 0.53. CVRx has a one year low of $6.40 and a one year high of $33.13. The stock has a market capitalization of $328.75 million, a price-to-earnings ratio of -5.56 and a beta of 1.15. The company’s fifty day simple moving average is $9.15 and its two-hundred day simple moving average is $9.49.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.12). CVRx had a negative net margin of 123.75% and a negative return on equity of 88.85%. The business had revenue of $13.37 million during the quarter, compared to analyst estimates of $13.28 million. During the same period in the prior year, the firm earned ($0.43) earnings per share. As a group, equities analysts expect that CVRx will post -2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CVRx

Several institutional investors and hedge funds have recently bought and sold shares of CVRX. International Assets Investment Management LLC purchased a new stake in CVRx during the 3rd quarter worth approximately $338,000. SG Americas Securities LLC purchased a new stake in shares of CVRx in the 3rd quarter valued at approximately $108,000. Squarepoint Ops LLC increased its position in shares of CVRx by 26.3% in the 2nd quarter. Squarepoint Ops LLC now owns 91,999 shares of the company’s stock valued at $1,103,000 after purchasing an additional 19,165 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of CVRx in the 2nd quarter valued at approximately $495,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of CVRx in the 2nd quarter valued at approximately $218,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.