Canaccord Genuity Group Lowers CVRx (NASDAQ:CVRX) Price Target to $18.00

CVRx (NASDAQ:CVRX) had its target price cut by stock analysts at Canaccord Genuity Group from $23.00 to $18.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 147.59% from the company’s current price.

Several other research firms also recently issued reports on CVRX. Craig Hallum lifted their price target on CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Piper Sandler lifted 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. Finally, William Blair upgraded CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, CVRx has a consensus rating of “Moderate Buy” and a consensus target price of $16.83.

CVRx Stock Up 17.3 %

NASDAQ:CVRX opened at $7.27 on Tuesday. The stock’s fifty day simple moving average is $12.58 and its 200-day simple moving average is $12.89. The company has a quick ratio of 10.23, a current ratio of 12.06 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $189.28 million, a P/E ratio of -2.70 and a beta of 1.34. CVRx has a 12-month low of $5.87 and a 12-month high of $18.89.

CVRx (NASDAQ:CVRX) last posted its earnings results 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 93.06% and a negative net margin of 116.91%. Equities research analysts expect that CVRx will post -1.91 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.