CVRx, Inc. (NASDAQ:CVRX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of CVRx, Inc. (NASDAQ:CVRX) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $11.40.

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald lifted their price objective on CVRx from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CVRx in a research note on Monday, December 29th. Finally, Canaccord Genuity Group upped their price target on CVRx from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, November 6th.

Institutional Investors Weigh In On CVRx

A number of hedge funds have recently made changes to their positions in CVRX. Vanguard Group Inc. boosted its position in CVRx by 1.2% in the third quarter. Vanguard Group Inc. now owns 1,090,226 shares of the company’s stock valued at $8,798,000 after buying an additional 12,948 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of CVRx by 65.5% in the second quarter. Balyasny Asset Management L.P. now owns 674,685 shares of the company’s stock valued at $3,967,000 after acquiring an additional 267,063 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CVRx by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 382,437 shares of the company’s stock worth $2,249,000 after acquiring an additional 23,079 shares in the last quarter. Marshall Wace LLP grew its position in CVRx by 238.1% during the 2nd quarter. Marshall Wace LLP now owns 350,080 shares of the company’s stock worth $2,058,000 after acquiring an additional 246,548 shares during the last quarter. Finally, Bank of America Corp DE grew its position in CVRx by 102.6% during the 3rd quarter. Bank of America Corp DE now owns 180,425 shares of the company’s stock worth $1,456,000 after acquiring an additional 91,376 shares during the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

CVRx Price Performance

Shares of CVRx stock opened at $6.55 on Tuesday. The firm has a market cap of $171.68 million, a P/E ratio of -3.24 and a beta of 1.31. The firm’s 50-day simple moving average is $7.43 and its 200-day simple moving average is $8.15. CVRx has a twelve month low of $4.30 and a twelve month high of $15.41. The company has a debt-to-equity ratio of 1.03, a quick ratio of 8.60 and a current ratio of 9.62.

About CVRx

CVRx, Inc is a clinical-stage medical device company focused on developing a neuromodulation platform therapy for patients with cardiovascular disease. The company’s flagship product, the Barostim™ system, delivers targeted electrical stimulation to the carotid baroreceptors with the goal of modulating the body’s natural blood pressure control mechanisms. This minimally invasive, implantable therapy is designed to address unmet needs in individuals suffering from hypertension and heart failure.

The Barostim system is currently being evaluated in multiple clinical trials, including studies in resistant hypertension and advanced heart failure.