Analysts Set CVRx, Inc. (NASDAQ:CVRX) Price Target at $11.20

Shares of CVRx, Inc. (NASDAQ:CVRX) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $11.20.

A number of equities analysts have issued reports on CVRX shares. Cantor Fitzgerald upgraded shares of CVRx to a “strong-buy” rating in a research report on Tuesday, February 17th. Canaccord Genuity Group dropped their target price on shares of CVRx from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CVRx in a research note on Monday, December 29th.

Insiders Place Their Bets

In other CVRx news, Director Mudit K. Jain acquired 46,800 shares of the company’s stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $6.36 per share, for a total transaction of $297,648.00. Following the acquisition, the director owned 980,183 shares in the company, valued at $6,233,963.88. This represents a 5.01% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 13.90% of the company’s stock.

Hedge Funds Weigh In On CVRx

A number of hedge funds and other institutional investors have recently made changes to their positions in CVRX. Mount Lucas Management LP purchased a new stake in CVRx in the second quarter worth $30,000. Larson Financial Group LLC boosted its holdings in CVRx by 155.6% in the fourth quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock valued at $39,000 after acquiring an additional 3,303 shares in the last quarter. Intech Investment Management LLC purchased a new position in CVRx during the 2nd quarter valued at $59,000. R Squared Ltd purchased a new position in CVRx during the 4th quarter valued at $74,000. Finally, Virtu Financial LLC bought a new position in CVRx in the 4th quarter worth $79,000. Institutional investors own 75.27% of the company’s stock.

CVRx Stock Performance

NASDAQ:CVRX opened at $7.53 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 6.72 and a current ratio of 7.63. CVRx has a fifty-two week low of $4.30 and a fifty-two week high of $13.34. The firm has a market cap of $198.11 million, a PE ratio of -3.67 and a beta of 1.28. The business has a 50 day moving average price of $6.89 and a 200-day moving average price of $8.04.

CVRx (NASDAQ:CVRX) last issued its earnings results on Thursday, February 12th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). The firm had revenue of $16.02 million during the quarter, compared to analysts’ expectations of $15.75 million. CVRx had a negative return on equity of 99.32% and a negative net margin of 94.10%. Equities research analysts predict that CVRx will post -1.91 earnings per share for the current 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.