Piper Sandler Forecasts Strong Price Appreciation for CVRx (NASDAQ:CVRX) Stock

CVRx (NASDAQ:CVRX - Get Free Report) had its target price lifted by equities researchers at Piper Sandler from $16.00 to $20.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's target price would suggest a potential upside of 36.61% from the stock's current price.

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

CVRx Stock Down 0.5 %

NASDAQ CVRX traded down $0.07 during mid-day trading on Wednesday, hitting $14.64. The stock had a trading volume of 162,348 shares, compared to its average volume of 295,083. The firm's 50 day moving average is $14.68 and its 200 day moving average is $11.80. 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 has a twelve month low of $6.40 and a twelve month high of $24.75.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported ($0.43) 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 96.36%. As a group, equities research analysts anticipate that CVRx will post -1.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. PDT Partners LLC purchased a new stake in shares of CVRx in the 3rd quarter valued at $543,000. International Assets Investment Management LLC acquired a new position in CVRx in the 3rd quarter valued at about $338,000. Barclays PLC increased its stake in CVRx by 312.5% during the third quarter. Barclays PLC now owns 19,067 shares of the company's stock worth $169,000 after purchasing an additional 14,445 shares during the period. Jane Street Group LLC lifted its position in shares of CVRx by 36.1% during the third quarter. Jane Street Group LLC now owns 19,038 shares of the company's stock worth $168,000 after purchasing an additional 5,053 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of CVRx by 2.2% in the third quarter. Geode Capital Management LLC now owns 295,124 shares of the company's stock valued at $2,600,000 after purchasing an additional 6,443 shares during the period. 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.