Craig Hallum Issues Positive Forecast for CVRx (NASDAQ:CVRX) Stock Price

CVRx (NASDAQ:CVRX) had its price target lifted by stock analysts at Craig Hallum from $20.00 to $22.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s target price indicates a potential upside of 26.29% from the company’s previous close.

A number of other research firms have also recently issued reports on CVRX. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 target price on shares of CVRx in a research note on Wednesday, October 23rd. Canaccord Genuity Group raised their price objective on shares of CVRx from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler restated an “overweight” rating and set a $16.00 price objective (up previously from $13.00) on shares of CVRx in a report on Wednesday, October 30th. William Blair upgraded CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Finally, Lake Street Capital lifted their price target on CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, CVRx presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

CVRx Stock Up 0.7 %

CVRX traded up $0.12 during trading on Friday, reaching $17.42. 155,363 shares of the stock were exchanged, compared to its average volume of 252,263. 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 stock’s 50 day moving average price is $14.08 and its two-hundred day moving average price is $11.09. CVRx has a twelve month low of $6.40 and a twelve month high of $29.23. The stock has a market cap of $422.61 million, a P/E ratio of -6.45 and a beta of 1.26.

CVRx (NASDAQ:CVRX) last issued its 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 the consensus estimate of $13.28 million. During the same quarter in the prior year, the firm posted ($0.43) earnings per share. Equities analysts expect that CVRx will post -2.62 EPS for the current year.

Institutional Investors Weigh In On CVRx

A number of hedge funds and other institutional investors have recently made changes to their positions in CVRX. Parkman Healthcare Partners LLC increased its stake in CVRx by 52.6% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock worth $6,016,000 after acquiring an additional 235,277 shares during the period. PDT Partners LLC acquired a new stake in shares of CVRx during the 3rd quarter worth $543,000. Marshall Wace LLP bought a new position in shares of CVRx in the second quarter worth $495,000. International Assets Investment Management LLC acquired a new position in CVRx in the third quarter valued at about $338,000. Finally, State Street Corp raised its stake in CVRx by 11.4% in the third quarter. State Street Corp now owns 264,733 shares of the company’s stock valued at $2,332,000 after purchasing an additional 27,071 shares in the last quarter. 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.