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

CVRx, Inc. (NASDAQ:CVRX) has been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $17.83.

Several analysts have issued reports on CVRX shares. William Blair raised shares of CVRx from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 14th. Canaccord Genuity Group increased their price objective 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 increased their price objective 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, 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 report on Wednesday, February 5th.

Hedge Funds Weigh In On CVRx

Several institutional investors and hedge funds have recently made changes to their positions in CVRX. JPMorgan Chase & Co. boosted its stake in shares of CVRx by 10,520.1% during the 4th quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company’s stock valued at $7,960,000 after buying an additional 622,370 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new position in CVRx during the fourth quarter worth $4,713,000. Parkman Healthcare Partners LLC lifted its stake in CVRx by 34.9% during the fourth quarter. Parkman Healthcare Partners LLC now owns 921,174 shares of the company’s stock worth $11,671,000 after purchasing an additional 238,277 shares during the last quarter. Emerald Advisers LLC lifted its stake in CVRx by 47.3% during the fourth quarter. Emerald Advisers LLC now owns 593,898 shares of the company’s stock worth $7,525,000 after purchasing an additional 190,844 shares during the last quarter. Finally, Norges Bank bought a new position in CVRx during the fourth quarter worth $1,411,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

CVRx Stock Down 0.1 %

CVRX opened at $12.96 on Tuesday. The firm has a 50 day moving average price of $14.89 and a 200 day moving average price of $12.36. The company has a market cap of $337.43 million, a PE ratio of -4.82 and a beta of 1.29. CVRx has a 1 year low of $6.40 and a 1 year high of $22.45. 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 issued its quarterly earnings data on Tuesday, February 4th. The company reported ($0.43) earnings per share (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%. Sell-side analysts expect that CVRx will post -1.91 earnings per share for the current year.

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.