Cantor Fitzgerald Reaffirms "Overweight" Rating for CVRx (NASDAQ:CVRX)

Key Points

• Cantor Fitzgerald has reaffirmed its "overweight" rating for CVRx, setting a target price of $11.00, suggesting a potential upside of 45.7% from the stock's recent closing price.
• CVRx reported a quarterly earnings miss with an EPS of (0.57), below the consensus estimate of (0.52), despite exceeding revenue expectations.
• Insider buying activity includes Director Kirk G. Nielsen purchasing 61,200 shares at an average price of $5.23, increasing his stake in the company significantly.

CVRx (NASDAQ:CVRX - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $11.00 price objective on the stock. Cantor Fitzgerald's target price would indicate a potential upside of 51.93% from the company's current price. Cantor Fitzgerald also issued estimates for CVRx's FY2025 earnings at ($1.99) EPS and FY2026 earnings at ($1.88) EPS.

Several other equities analysts have also recently issued reports on the company. Piper Sandler decreased their price objective on CVRx from $20.00 to $12.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $7.00 price target (down previously from $15.00) on shares of CVRx in a report on Friday, May 9th. William Blair raised shares of CVRx to a "strong-buy" rating in a report on Monday, July 7th. Canaccord Genuity Group decreased their price objective on shares of CVRx from $23.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Lake Street Capital dropped their target price on shares of CVRx from $19.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CVRx has an average rating of "Moderate Buy" and an average target price of $14.00.

CVRx Price Performance

CVRx stock traded up $0.30 during midday trading on Tuesday, reaching $7.24. The company had a trading volume of 280,251 shares, compared to its average volume of 355,268. The company has a market capitalization of $189.33 million, a P/E ratio of -3.45 and a beta of 1.27. CVRx has a 12-month low of $4.30 and a 12-month high of $18.55. The firm's fifty day simple moving average is $6.90 and its 200-day simple moving average is $9.34. The company has a debt-to-equity ratio of 0.85, a current ratio of 11.99 and a quick ratio of 13.45.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($0.57) EPS for the quarter, missing analysts' consensus estimates of ($0.52) by ($0.05). CVRx had a negative return on equity of 79.31% and a negative net margin of 95.61%. The firm had revenue of $13.59 million for the quarter, compared to analysts' expectations of $13.22 million. As a group, equities analysts anticipate that CVRx will post -1.91 EPS for the current year.

Insider Buying and Selling

In related news, Director Kirk G. Nielsen acquired 10,966 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were acquired at an average cost of $5.45 per share, for a total transaction of $59,764.70. Following the acquisition, the director directly owned 1,910,134 shares in the company, valued at approximately $10,410,230.30. The trade was a 0.58% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders bought 78,666 shares of company stock valued at $411,031. 13.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of CVRx by 10,520.1% in the fourth quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company's stock worth $7,960,000 after buying an additional 622,370 shares during the period. Norges Bank bought a new position in shares of CVRx in the fourth quarter valued at approximately $1,411,000. Geode Capital Management LLC raised its position in CVRx by 9.8% in the fourth quarter. Geode Capital Management LLC now owns 323,931 shares of the company's stock worth $4,105,000 after acquiring an additional 28,807 shares in the last quarter. Trexquant Investment LP raised its position in CVRx by 292.9% in the fourth quarter. Trexquant Investment LP now owns 102,197 shares of the company's stock worth $1,295,000 after acquiring an additional 76,184 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of CVRx by 86.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,894 shares of the company's stock valued at $113,000 after purchasing an additional 4,115 shares during the period. 75.27% of the stock is currently owned by hedge funds and other 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.