CVRx (NASDAQ:CVRX) Price Target Cut to $14.00 by Analysts at Lake Street Capital

CVRx (NASDAQ:CVRX) had its target price lowered by Lake Street Capital from $19.00 to $14.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

CVRX has been the topic of several other research reports. Piper Sandler lifted their price target on shares of CVRx from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Craig Hallum boosted their price target on CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, January 17th. Canaccord Genuity Group decreased their price objective on CVRx from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, William Blair upgraded CVRx from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.83.

CVRx Stock Performance

Shares of CVRX opened at $6.20 on Tuesday. CVRx has a one year low of $5.87 and a one year high of $19.24. The business has a fifty day moving average of $12.95 and a 200 day moving average of $12.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 12.06 and a quick ratio of 10.23. The firm has a market capitalization of $161.42 million, a P/E ratio of -2.30 and a beta of 1.34.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. As a group, sell-side analysts anticipate that CVRx will post -1.91 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in shares of CVRx by 13.0% during the first quarter. Rhumbline Advisers now owns 19,018 shares of the company’s stock valued at $233,000 after buying an additional 2,192 shares during the last quarter. GAMMA Investing LLC increased its holdings in CVRx by 1,469.3% in the 1st quarter. GAMMA Investing LLC now owns 4,598 shares of the company’s stock valued at $56,000 after acquiring an additional 4,305 shares during the last quarter. PharVision Advisers LLC purchased a new stake in CVRx in the 4th quarter worth $259,000. Two Sigma Investments LP boosted its holdings in shares of CVRx by 80.7% during the 4th quarter. Two Sigma Investments LP now owns 55,367 shares of the company’s stock valued at $702,000 after purchasing an additional 24,734 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC bought a new stake in shares of CVRx in the fourth quarter worth about $4,713,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

About CVRx

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.