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

Shares of CVRx, Inc. (NASDAQ:CVRX) have earned an average rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.83.

Several brokerages have commented on CVRX. Piper Sandler lifted their target price on CVRx from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Craig Hallum lifted 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. William Blair raised CVRx from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 14th. Finally, Canaccord Genuity Group lifted their price target on CVRx from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th.

Institutional Investors Weigh In On CVRx

Several hedge funds have recently added to or reduced their stakes in CVRX. Parkman Healthcare Partners LLC lifted its holdings in CVRx by 34.9% in the fourth quarter. Parkman Healthcare Partners LLC now owns 921,174 shares of the company’s stock valued at $11,671,000 after acquiring an additional 238,277 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of CVRx by 10,520.1% in the fourth quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company’s stock valued at $7,960,000 after purchasing an additional 622,370 shares in the last quarter. Emerald Advisers LLC increased its holdings in shares of CVRx by 47.3% in the 4th quarter. Emerald Advisers LLC now owns 593,898 shares of the company’s stock worth $7,525,000 after buying an additional 190,844 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new position in shares of CVRx during the 4th quarter valued at approximately $4,713,000. Finally, Emerald Mutual Fund Advisers Trust raised its position in CVRx by 28.8% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 370,813 shares of the company’s stock worth $4,698,000 after purchasing an additional 82,978 shares during the period. 75.27% of the stock is owned by institutional investors.

CVRx Trading Up 2.2 %

Shares of NASDAQ:CVRX opened at $12.76 on Friday. The company has a market capitalization of $332.22 million, a P/E ratio of -4.74 and a beta of 1.34. The company has a 50-day simple moving average of $14.39 and a 200 day simple moving average of $12.72. CVRx has a 52-week low of $6.40 and a 52-week high of $19.85. The company has a debt-to-equity ratio of 0.69, a quick ratio of 10.23 and a current ratio of 12.06.

CVRx (NASDAQ:CVRX) last released its earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. Sell-side analysts forecast that CVRx will post -1.91 earnings per share for the current year.

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.