CVRx (NASDAQ:CVRX) PT Lowered to $12.00 at Lake Street Capital

CVRx (NASDAQ:CVRX) had its price objective reduced by analysts at Lake Street Capital from $18.00 to $12.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s price target suggests a potential upside of 23.46% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut shares of CVRx from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $13.00 in a report on Wednesday, May 1st. Piper Sandler decreased their price target on shares of CVRx from $33.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Craig Hallum initiated coverage on shares of CVRx in a report on Wednesday, May 1st. They set a “buy” rating and a $23.00 price target for the company. William Blair cut shares of CVRx from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Finally, Canaccord Genuity Group decreased their price target on shares of CVRx from $32.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.80.

CVRx Price Performance

Shares of NASDAQ:CVRX opened at $9.72 on Thursday. The company’s fifty day moving average is $9.28 and its two-hundred day moving average is $17.53. The company has a quick ratio of 10.87, a current ratio of 12.18 and a debt-to-equity ratio of 0.44. CVRx has a 12-month low of $6.40 and a 12-month high of $33.13. The company has a market cap of $209.91 million, a P/E ratio of -3.94 and a beta of 1.27.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.51). CVRx had a negative return on equity of 66.05% and a negative net margin of 123.58%. The company had revenue of $10.77 million during the quarter, compared to analyst estimates of $11.60 million. Equities analysts expect that CVRx will post -2.39 earnings per share for the current fiscal year.

Institutional Trading of CVRx

Several hedge funds have recently modified their holdings of CVRX. Federated Hermes Inc. bought a new position in CVRx in the fourth quarter valued at approximately $102,000. Trexquant Investment LP bought a new position in shares of CVRx during the fourth quarter worth $426,000. Jump Financial LLC bought a new position in shares of CVRx during the fourth quarter worth $499,000. Valeo Financial Advisors LLC bought a new position in shares of CVRx during the first quarter worth $346,000. Finally, FourWorld Capital Management LLC bought a new position in shares of CVRx during the first quarter worth $374,000. 75.27% of the stock is owned by 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.