Piper Sandler Increases CVRx (NASDAQ:CVRX) Price Target to $20.00

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

A number of other research firms also recently issued reports on CVRX. Craig Hallum lifted their price objective on shares of CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price target on shares of CVRx in a research note on Wednesday, October 23rd. Lake Street Capital increased their price objective on CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. William Blair raised CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 14th. Finally, Canaccord Genuity Group raised their price objective on CVRx from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.83.

CVRx Price Performance

Shares of NASDAQ CVRX opened at $15.08 on Wednesday. The stock’s 50-day simple moving average is $14.71 and its two-hundred day simple moving average is $11.73. CVRx has a twelve month low of $6.40 and a twelve month high of $25.03. The firm has a market capitalization of $365.84 million, a P/E ratio of -5.59 and a beta of 1.29. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76.

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

Hedge Funds Weigh In On CVRx

A number of hedge funds have recently modified their holdings of the company. Parkman Healthcare Partners LLC increased its holdings in CVRx by 52.6% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 682,897 shares of the company’s stock valued at $6,016,000 after purchasing an additional 235,277 shares during the period. PDT Partners LLC purchased a new position in shares of CVRx during the third quarter valued at approximately $543,000. Marshall Wace LLP purchased a new position in shares of CVRx during the second quarter valued at approximately $495,000. International Assets Investment Management LLC purchased a new position in shares of CVRx during the third quarter valued at approximately $338,000. Finally, State Street Corp increased its stake in shares of CVRx by 11.4% during the third quarter. State Street Corp now owns 264,733 shares of the company’s stock valued at $2,332,000 after buying an additional 27,071 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.