CVRx, Inc. (NASDAQ:CVRX) Stock Has Consensus Target Price of $4.30 According to Analysts

Key Points

• Analyst consensus is “Hold” among six firms, with one sell, three hold, and two buy ratings; the average 12-month price target is $4.30.
• Several analysts recently downgraded CVRx or reduced targets, with price objectives ranging from $3.50 to $5.00. Shares opened at $2.70, near the $2.20 one-year low and well below the $11.30 high.
• CVRx reported a quarterly loss of $0.53 per share, slightly missing estimates, while revenue of $15.71 million exceeded expectations. COO Brent Binkowski bought 26,223 shares, and insiders and institutions own 16.60% and 75.27% of the stock, respectively.

CVRx, Inc. (NASDAQ:CVRX - Get Free Report) has earned an average rating of "Hold" from the six ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $4.30.

Several research firms have commented on CVRX. Wall Street Zen downgraded shares of CVRx from a "hold" rating to a "sell" rating in a report on Sunday, September 20th. Lake Street Capital lowered CVRx from a "buy" rating to a "hold" rating and cut their price target for the stock from $14.00 to $3.50 in a report on Friday, August 7th. Craig Hallum downgraded CVRx from a "buy" rating to a "hold" rating and set a $4.00 target price for the company. in a research note on Friday, August 7th. Canaccord Genuity Group set a $5.00 price objective on shares of CVRx in a research report on Tuesday. Finally, Piper Sandler cut shares of CVRx from an "overweight" rating to a "neutral" rating and set a $4.00 price objective for the company. in a research note on Friday, August 7th.

Insider Buying and Selling

In other news, COO Brent Binkowski purchased 26,223 shares of CVRx stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of $2.91 per share, for a total transaction of $76,308.93. Following the transaction, the chief operating officer directly owned 56,514 shares of the company's stock, valued at approximately $164,455.74. This trade represents a 86.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CVRx

Several large investors have recently added to or reduced their stakes in CVRX. Bank of America Corp DE purchased a new stake in shares of CVRx in the 2nd quarter valued at about $102,000. BlackRock Inc. bought a new position in shares of CVRx in the second quarter worth approximately $6,402,000. Deutsche Bank AG bought a new position in shares of CVRx in the second quarter worth approximately $62,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in CVRx in the second quarter valued at approximately $107,000. Finally, Bank of New York Mellon Corp bought a new position in shares of CVRx in the 2nd quarter worth $199,000. Institutional investors own 75.27% of the company's stock.

CVRx Price Performance

Shares of NASDAQ CVRX opened at $2.70 on Friday. The company has a current ratio of 8.04, a quick ratio of 6.87 and a debt-to-equity ratio of 2.94. The stock has a fifty day simple moving average of $3.54 and a two-hundred day simple moving average of $5.55. CVRx has a 1-year low of $2.20 and a 1-year high of $11.30. The firm has a market cap of $71.93 million, a price-to-earnings ratio of -1.36 and a beta of 0.76.

CVRx (NASDAQ:CVRX - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of ($0.52) by ($0.01). The firm had revenue of $15.71 million for the quarter, compared to analysts' expectations of $15.55 million. CVRx had a negative net margin of 84.93% and a negative return on equity of 152.35%. Analysts anticipate that CVRx will post -2 earnings per share for the current year.

CVRx Company Profile

CVRx, Inc is a medical device company that develops and commercializes neuromodulation therapies for patients with cardiovascular diseases. The company's technology is designed to use the body's nervous system to help regulate cardiovascular function and address conditions that may not be adequately managed with conventional drug therapy.

CVRx's primary product is Barostim, an implantable system that electrically stimulates the baroreceptors located near the carotid arteries. The therapy is intended to activate the body's natural cardiovascular regulation mechanisms and is used primarily in eligible patients with heart failure, including certain patients with reduced ejection fraction.

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