CVRx (NASDAQ:CVRX) Announces Quarterly Earnings Results

CVRx (NASDAQ:CVRX) posted its quarterly earnings data on Tuesday. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06), Zacks reports. CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%.

CVRx Price Performance

CVRX traded up $0.79 on Tuesday, hitting $16.25. 268,521 shares of the company were exchanged, compared to its average volume of 262,124. The business’s fifty day moving average is $14.69 and its 200 day moving average is $11.66. CVRx has a fifty-two week low of $6.40 and a fifty-two week high of $25.04. 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 capitalization of $394.23 million, a P/E ratio of -6.02 and a beta of 1.29.

Analyst Upgrades and Downgrades

CVRX has been the topic of several recent research reports. Canaccord Genuity Group boosted their price target on CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 price target on shares of CVRx in a research note on Wednesday, October 23rd. Lake Street Capital lifted their price objective on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler restated 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. Finally, William Blair raised shares of CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, CVRx presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

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.