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

CVRx (NASDAQ:CVRX)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a report issued on Tuesday,Benzinga reports. They presently have a $11.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 55.52% from the stock’s previous close.

CVRX has been the subject of a number of other reports. JPMorgan Chase & Co. reissued an “underweight” rating and set a $7.00 price target (down from $15.00) on shares of CVRx in a research note on Friday, May 9th. Canaccord Genuity Group dropped their price target on CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Lake Street Capital lowered their price objective on CVRx from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Piper Sandler lowered 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. Finally, William Blair raised CVRx to a “strong-buy” rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

CVRx Price Performance

Shares of CVRx stock opened at $7.07 on Tuesday. The stock has a 50 day moving average of $6.88 and a 200 day moving average of $9.49. CVRx has a 12 month low of $4.30 and a 12 month high of $18.55. The firm has a market cap of $184.39 million, a PE ratio of -3.37 and a beta of 1.27. The company has a current ratio of 14.82, a quick ratio of 13.45 and a debt-to-equity ratio of 0.71.

CVRx (NASDAQ:CVRX) last announced its quarterly 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 net margin of 95.61% and a negative return on equity of 76.24%. The firm had revenue of $13.59 million for the quarter, compared to the consensus estimate of $13.22 million. On average, research analysts expect that CVRx will post -1.91 EPS for the current fiscal year.

Insider Activity

In other CVRx news, Director Kirk G. Nielsen purchased 10,966 shares of CVRx stock in a transaction dated Thursday, May 15th. The shares were purchased at an average cost of $5.45 per share, for a total transaction of $59,764.70. Following the completion of the acquisition, the director owned 1,910,134 shares in the company, valued at $10,410,230.30. This represents a 0.58% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders purchased 78,666 shares of company stock valued at $411,031. 13.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On CVRx

Hedge funds and other institutional investors have recently modified their holdings of the business. Larson Financial Group LLC purchased a new stake in shares of CVRx in the first quarter worth approximately $28,000. Tower Research Capital LLC TRC raised its holdings in shares of CVRx by 43.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock worth $49,000 after buying an additional 1,186 shares during the period. GAMMA Investing LLC raised its holdings in shares of CVRx by 1,469.3% in the first quarter. GAMMA Investing LLC now owns 4,598 shares of the company’s stock worth $56,000 after buying an additional 4,305 shares during the period. Quarry LP purchased a new stake in shares of CVRx in the fourth quarter worth approximately $69,000. Finally, Whittier Trust Co. purchased a new stake in shares of CVRx in the first quarter worth approximately $73,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

About CVRx

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.