CVRx, Inc. (NASDAQ:CVRX) Receives $13.17 Consensus Price Target from Brokerages

CVRx, Inc. (NASDAQ:CVRX) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $11.40.

Several equities analysts have recently weighed in on CVRX shares. Weiss Ratings restated a “sell (d-)” rating on shares of CVRx in a report on Monday, December 29th. Canaccord Genuity Group increased their price objective on shares of CVRx from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Cantor Fitzgerald lifted their target price on shares of CVRx from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th.

Insiders Place Their Bets

In related news, major shareholder & Johnson Johnson sold 52,332 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $10.21, for a total value of $534,309.72. Following the completion of the transaction, the insider directly owned 4,051,098 shares in the company, valued at $41,361,710.58. The trade was a 1.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 56,232 shares of company stock valued at $573,442. 13.90% of the stock is owned by insiders.

Institutional Trading of CVRx

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of CVRx by 1.2% in the third quarter. Vanguard Group Inc. now owns 1,090,226 shares of the company’s stock worth $8,798,000 after purchasing an additional 12,948 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in CVRx by 65.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 674,685 shares of the company’s stock valued at $3,967,000 after acquiring an additional 267,063 shares during the period. Geode Capital Management LLC boosted its holdings in shares of CVRx by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 382,437 shares of the company’s stock valued at $2,249,000 after acquiring an additional 23,079 shares during the last quarter. Marshall Wace LLP grew its stake in shares of CVRx by 238.1% in the second quarter. Marshall Wace LLP now owns 350,080 shares of the company’s stock worth $2,058,000 after acquiring an additional 246,548 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of CVRx by 102.6% during the third quarter. Bank of America Corp DE now owns 180,425 shares of the company’s stock valued at $1,456,000 after purchasing an additional 91,376 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.

CVRx Price Performance

Shares of CVRX opened at $5.21 on Friday. CVRx has a fifty-two week low of $4.30 and a fifty-two week high of $18.55. The firm’s 50-day simple moving average is $8.33 and its two-hundred day simple moving average is $8.24. The stock has a market cap of $136.55 million, a PE ratio of -2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 1.03, a quick ratio of 8.60 and a current ratio of 9.62.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. CVRx had a negative return on equity of 84.45% and a negative net margin of 92.95%.The firm had revenue of $14.69 million for the quarter, compared to analysts’ expectations of $14.16 million. Analysts anticipate that CVRx will post -1.91 earnings per share for the current fiscal year.

CVRx Company Profile

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.