CVRx (NASDAQ:CVRX) Stock Rating Upgraded by Cantor Fitzgerald

CVRx (NASDAQ:CVRX) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on CVRX. Canaccord Genuity Group lowered their price target on CVRx from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of CVRx in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.20.

CVRx Stock Up 2.3%

CVRX opened at $4.85 on Tuesday. CVRx has a one year low of $4.30 and a one year high of $15.00. The company has a market capitalization of $127.60 million, a PE ratio of -2.37 and a beta of 1.31. The stock’s fifty day moving average is $6.93 and its 200-day moving average is $8.01. The company has a debt-to-equity ratio of 1.26, a quick ratio of 8.60 and a current ratio of 7.63.

CVRx (NASDAQ:CVRX) last released its earnings results on Thursday, February 12th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). CVRx had a negative net margin of 94.10% and a negative return on equity of 99.32%. The business had revenue of $16.02 million for the quarter, compared to analysts’ expectations of $15.75 million. On average, equities analysts predict that CVRx will post -1.91 EPS for the current fiscal year.

Institutional Trading of CVRx

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of CVRx by 1.2% during the third quarter. Vanguard Group Inc. now owns 1,090,226 shares of the company’s stock worth $8,798,000 after purchasing an additional 12,948 shares in the last quarter. GSK plc acquired a new stake in CVRx during the 4th quarter worth $7,154,000. Balyasny Asset Management L.P. lifted its holdings in CVRx by 17.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 814,943 shares of the company’s stock worth $5,786,000 after acquiring an additional 118,683 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of CVRx by 6.4% in the second 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. Finally, Marshall Wace LLP raised its position in shares of CVRx by 238.1% during the second quarter. Marshall Wace LLP now owns 350,080 shares of the company’s stock worth $2,058,000 after purchasing an additional 246,548 shares during the period. 75.27% of the stock is owned by institutional investors.

CVRx Company Profile

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.