Piper Sandler Issues Positive Forecast for CVRx (NASDAQ:CVRX) Stock Price

CVRx (NASDAQ:CVRX) had its target price upped by Piper Sandler from $16.00 to $20.00 in a report released on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other analysts have also commented on the stock. Canaccord Genuity Group lifted their price objective on shares of CVRx from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. William Blair raised shares of CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 14th. Lake Street Capital increased their price objective on CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Craig Hallum raised their target price on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price target on shares of CVRx in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.83.

CVRx Stock Performance

CVRX stock opened at $15.08 on Wednesday. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76. The firm has a market cap of $365.84 million, a PE ratio of -5.59 and a beta of 1.29. The business has a 50 day moving average of $14.71 and a 200-day moving average of $11.73. CVRx has a 12-month low of $6.40 and a 12-month high of $25.03.

CVRx (NASDAQ:CVRX) last announced its quarterly earnings data on Tuesday, February 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). CVRx had a negative net margin of 123.75% and a negative return on equity of 89.06%. As a group, sell-side analysts expect that CVRx will post -2.61 earnings per share for the current year.

Institutional Investors Weigh In On CVRx

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP bought a new stake in shares of CVRx during the 2nd quarter valued at $218,000. Marshall Wace LLP purchased a new position in CVRx during the 2nd quarter valued at about $495,000. SG Americas Securities LLC bought a new stake in shares of CVRx during the third quarter valued at about $108,000. International Assets Investment Management LLC bought a new stake in shares of CVRx during the third quarter valued at about $338,000. Finally, PDT Partners LLC purchased a new stake in shares of CVRx in the third quarter worth about $543,000. Hedge funds and other 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.