Analysts Set CVRx, Inc. (NASDAQ:CVRX) Price Target at $17.83

CVRx, Inc. (NASDAQ:CVRX) has received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $17.83.

Several equities analysts recently commented on CVRX shares. Piper Sandler increased their price objective on shares of CVRx from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Canaccord Genuity Group upped their price target on shares of CVRx from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Craig Hallum upped their price target on shares of CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, William Blair upgraded shares of CVRx from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 14th.

CVRx Price Performance

Shares of NASDAQ:CVRX opened at $12.35 on Tuesday. The company has a market cap of $321.54 million, a price-to-earnings ratio of -4.59 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23. The firm has a 50 day simple moving average of $14.89 and a 200 day simple moving average of $12.43. CVRx has a one year low of $6.40 and a one year high of $22.45.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Tuesday, February 4th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.06). CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. Research analysts predict that CVRx will post -1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CVRx

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in shares of CVRx by 43.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock worth $49,000 after purchasing an additional 1,186 shares in the last quarter. Quarry LP purchased a new position in CVRx during the fourth quarter valued at approximately $69,000. MetLife Investment Management LLC purchased a new position in CVRx during the fourth quarter valued at approximately $111,000. Wells Fargo & Company MN grew its stake in CVRx by 86.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,894 shares of the company’s stock valued at $113,000 after acquiring an additional 4,115 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in CVRx during the fourth quarter valued at approximately $127,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.