CVRx (NASDAQ:CVRX) Given New $15.00 Price Target at Lake Street Capital

CVRx (NASDAQ:CVRX - Get Free Report) had its price target raised by research analysts at Lake Street Capital from $12.00 to $15.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Lake Street Capital's price objective points to a potential upside of 6.91% from the company's previous close.

Several other research analysts also recently issued reports on CVRX. Canaccord Genuity Group upped their price target on shares of CVRx from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday. Craig Hallum decreased their price target on shares of CVRx from $23.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, July 11th. Cantor Fitzgerald restated an "overweight" rating and issued a $14.00 price objective on shares of CVRx in a research report on Wednesday, October 23rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $16.00 price objective (up from $13.00) on shares of CVRx in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, CVRx currently has an average rating of "Moderate Buy" and an average target price of $15.00.

CVRx Price Performance

Shares of NASDAQ:CVRX traded up $3.29 during trading on Wednesday, reaching $14.03. The stock had a trading volume of 1,123,050 shares, compared to its average volume of 270,499. The stock has a market capitalization of $305.66 million, a PE ratio of -5.09 and a beta of 1.26. CVRx has a 52 week low of $6.40 and a 52 week high of $33.13. The business's 50-day moving average price is $8.85 and its 200 day moving average price is $9.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 10.08 and a quick ratio of 8.85.

CVRx (NASDAQ:CVRX - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.14). CVRx had a negative return on equity of 77.62% and a negative net margin of 122.52%. The business had revenue of $11.81 million during the quarter, compared to analyst estimates of $11.84 million. During the same period in the prior year, the firm posted ($0.56) EPS. As a group, equities analysts predict that CVRx will post -2.56 earnings per share for the current year.

Insider Buying and Selling at CVRx

In related news, CEO Kevin Hykes bought 30,000 shares of the business's stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $8.36 per share, for a total transaction of $250,800.00. Following the purchase, the chief executive officer now owns 30,000 shares in the company, valued at $250,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 38,500 shares of company stock worth $322,545 over the last quarter. 18.90% of the stock is currently owned by insiders.

Institutional Trading of CVRx

Several institutional investors have recently added to or reduced their stakes in CVRX. SG Americas Securities LLC acquired a new stake in shares of CVRx during the third quarter worth $108,000. Rhumbline Advisers raised its stake in CVRx by 28.8% in the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company's stock worth $207,000 after purchasing an additional 3,863 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in CVRx in the 2nd quarter valued at about $218,000. International Assets Investment Management LLC acquired a new position in shares of CVRx during the 3rd quarter worth approximately $338,000. Finally, FourWorld Capital Management LLC bought a new position in shares of CVRx during the first quarter worth approximately $374,000. 75.27% of the stock is currently 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.

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