CVRx (NASDAQ:CVRX) Issues Quarterly Earnings Results

CVRx (NASDAQ:CVRX - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.43) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.06), Zacks reports. CVRx had a negative net margin of 116.91% and a negative return on equity of 96.36%.

CVRx Trading Down 0.5 %

Shares of CVRX traded down $0.07 during mid-day trading on Friday, hitting $14.64. The company had a trading volume of 162,348 shares, compared to its average volume of 295,083. CVRx has a 1-year low of $6.40 and a 1-year high of $24.75. The company has a quick ratio of 10.23, a current ratio of 11.32 and a debt-to-equity ratio of 0.76. The business's 50-day simple moving average is $14.68 and its 200-day simple moving average is $11.80. The stock has a market cap of $355.22 million, a PE ratio of -5.44 and a beta of 1.30.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Canaccord Genuity Group increased their price target on shares of CVRx from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday. Cantor Fitzgerald reissued an "overweight" rating and issued a $14.00 price target on shares of CVRx in a report on Wednesday, October 23rd. Lake Street Capital upped their price objective on CVRx from $12.00 to $15.00 and gave the stock a "buy" rating in a 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, Piper Sandler upped 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. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $17.83.

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.