CVRx (NASDAQ:CVRX) Earns “Underweight” Rating from JPMorgan Chase & Co.

CVRx (NASDAQ:CVRX)‘s stock had its “underweight” rating reissued by equities research analysts at JPMorgan Chase & Co. in a research report issued on Friday, MarketBeat.com reports. They presently have a $7.00 target price on the stock, down from their previous target price of $15.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 48.94% from the company’s current price.

A number of other equities research analysts have also recently weighed in on CVRX. Piper Sandler upped their price target on CVRx from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Lake Street Capital lowered their target price on CVRx from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Craig Hallum lifted their price target on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. William Blair raised shares of CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 14th. Finally, Canaccord Genuity Group cut their target price on shares of CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.50.

CVRx Stock Down 39.6 %

CVRX opened at $4.70 on Friday. The business has a 50 day simple moving average of $9.29 and a 200-day simple moving average of $12.60. CVRx has a 12 month low of $4.61 and a 12 month high of $18.55. The stock has a market capitalization of $122.47 million, a P/E ratio of -1.75 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23.

CVRx (NASDAQ:CVRX) last issued its earnings results on Thursday, May 8th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.03. The company had revenue of $12.35 million for the quarter, compared to analyst estimates of $14.68 million. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. On average, equities analysts anticipate that CVRx will post -1.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVRx

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG boosted its position in CVRx by 41.5% during the first quarter. Deutsche Bank AG now owns 10,390 shares of the company’s stock worth $127,000 after acquiring an additional 3,048 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CVRx by 12.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 41,905 shares of the company’s stock worth $512,000 after purchasing an additional 4,751 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of CVRx in the first quarter valued at $675,000. Larson Financial Group LLC acquired a new position in CVRx in the first quarter valued at $28,000. Finally, Whittier Trust Co. purchased a new position in CVRx during the first quarter worth about $73,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

CVRx Company Profile

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.