CVRx (NASDAQ:CVRX) Price Target Raised to $22.00 at Craig Hallum

CVRx (NASDAQ:CVRX) had its target price increased by Craig Hallum from $20.00 to $22.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

CVRX has been the subject of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 price target on shares of CVRx in a research report on Wednesday, October 23rd. Piper Sandler reissued 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. Lake Street Capital lifted their price target on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. William Blair raised shares of CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Finally, Canaccord Genuity Group raised their price objective on shares of CVRx from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

CVRx Stock Performance

Shares of NASDAQ CVRX opened at $17.62 on Friday. CVRx has a 12-month low of $6.40 and a 12-month high of $29.23. The firm has a market capitalization of $427.46 million, a price-to-earnings ratio of -6.53 and a beta of 1.26. The company has a current ratio of 11.32, a quick ratio of 10.23 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average of $14.12 and a 200 day moving average of $11.13.

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

Institutional Investors Weigh In On CVRx

Several institutional investors and hedge funds have recently modified their holdings of CVRX. SG Americas Securities LLC purchased a new position in CVRx during the third quarter valued at $108,000. XTX Topco Ltd bought a new position in shares of CVRx during the 3rd quarter valued at about $150,000. Jane Street Group LLC grew its position in shares of CVRx by 36.1% during the third 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 in the last quarter. Barclays PLC increased its holdings in shares of CVRx by 312.5% in the third 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 purchased a new stake in shares of CVRx in the third quarter worth about $178,000. Institutional investors own 75.27% of the company’s stock.

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.