CVRx (NASDAQ:CVRX) Given New $15.00 Price Target at Canaccord Genuity Group

CVRx (NASDAQ:CVRX) had its price target raised by Canaccord Genuity Group from $14.00 to $15.00 in a research report sent to investors on Tuesday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other analysts also recently commented on CVRX. Piper Sandler decreased their target price on CVRx from $15.00 to $13.00 and set an overweight rating on the stock in a research report on Tuesday. Craig Hallum dropped their price target on CVRx from $23.00 to $15.00 and set a buy rating for the company in a research note on Thursday, July 11th. JPMorgan Chase & Co. lowered CVRx from an overweight rating to a neutral rating and lowered their target price for the company from $36.00 to $13.00 in a research note on Wednesday, May 1st. Lake Street Capital lowered their target price on CVRx from $18.00 to $12.00 and set a buy rating for the company in a research note on Thursday, July 11th. Finally, William Blair downgraded CVRx from an outperform rating to a market perform rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $13.60.

CVRx Stock Performance

Shares of CVRX opened at $8.23 on Tuesday. The stock has a 50-day simple moving average of $9.68 and a 200-day simple moving average of $15.40. The company has a debt-to-equity ratio of 0.44, a quick ratio of 10.87 and a current ratio of 12.18. The stock has a market capitalization of $177.77 million, a PE ratio of -3.33 and a beta of 1.26. CVRx has a 1 year low of $6.40 and a 1 year high of $33.13.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Monday, July 29th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.14). The firm had revenue of $11.81 million for the quarter, compared to analyst estimates of $11.84 million. CVRx had a negative return on equity of 72.51% and a negative net margin of 122.52%. During the same period last year, the firm earned ($0.56) EPS. On average, analysts predict that CVRx will post -2.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CVRx

Several hedge funds have recently modified their holdings of CVRX. Federated Hermes Inc. acquired a new position in shares of CVRx during the 4th quarter valued at $102,000. Rhumbline Advisers boosted its position in shares of CVRx by 28.8% in the second quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock worth $207,000 after buying an additional 3,863 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of CVRx in the first quarter worth $346,000. FourWorld Capital Management LLC acquired a new stake in CVRx during the first quarter valued at $374,000. Finally, Trexquant Investment LP acquired a new stake in CVRx during the fourth quarter valued at $426,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.