Canaccord Genuity Group Increases CVRx (NASDAQ:CVRX) Price Target to $22.00

CVRx (NASDAQ:CVRX) had its price objective raised by Canaccord Genuity Group from $17.00 to $22.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

CVRX has been the subject of a number of other research reports. Lake Street Capital boosted their price target on CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $16.00 target price (up from $13.00) on shares of CVRx in a report on Wednesday, October 30th. Craig Hallum upped their target price on CVRx from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price target on shares of CVRx in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, CVRx currently has an average rating of “Moderate Buy” and a consensus price target of $16.67.

CVRx Trading Up 1.2 %

NASDAQ:CVRX opened at $13.64 on Monday. 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 company has a market capitalization of $330.91 million, a P/E ratio of -5.05 and a beta of 1.20. The stock’s 50 day moving average price is $12.23 and its 200 day moving average price is $10.28. CVRx has a 52 week low of $6.40 and a 52 week high of $33.13.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.12). CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. The business had revenue of $13.37 million for the quarter, compared to analyst estimates of $13.28 million. During the same quarter last year, the company earned ($0.43) EPS. On average, research analysts forecast that CVRx will post -2.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of CVRx in the third quarter worth $108,000. XTX Topco Ltd acquired a new position in CVRx during the 3rd quarter valued at $150,000. Jane Street Group LLC boosted its holdings in CVRx by 36.1% in the 3rd quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock valued at $168,000 after purchasing an additional 5,053 shares during the period. Barclays PLC grew its position in CVRx by 312.5% in the 3rd quarter. Barclays PLC now owns 19,067 shares of the company’s stock worth $169,000 after purchasing an additional 14,445 shares during the last quarter. Finally, Centiva Capital LP bought a new position in shares of CVRx during the 3rd quarter worth about $178,000. 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.