CVRx (NASDAQ:CVRX) Upgraded at Cantor Fitzgerald

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

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group decreased their target price on shares of CVRx from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of CVRx in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.20.

CVRx Trading Down 4.2%

NASDAQ CVRX opened at $4.74 on Tuesday. The firm has a market capitalization of $124.24 million, a PE ratio of -2.31 and a beta of 1.31. CVRx has a one year low of $4.30 and a one year high of $15.36. The company has a 50-day simple moving average of $7.01 and a 200-day simple moving average of $8.04. The company has a debt-to-equity ratio of 1.03, a quick ratio of 8.60 and a current ratio of 9.62.

CVRx (NASDAQ:CVRX) last issued its earnings results on Thursday, February 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). The business had revenue of $16.02 million during the quarter, compared to the consensus estimate of $15.75 million. CVRx had a negative return on equity of 91.20% and a negative net margin of 94.10%. On average, equities analysts forecast that CVRx will post -1.91 earnings per share for the current year.

Institutional Trading of CVRx

Several large investors have recently added to or reduced their stakes in CVRX. Mount Lucas Management LP acquired a new stake in shares of CVRx in the second quarter worth $30,000. Larson Financial Group LLC grew its stake in CVRx by 155.6% during the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock valued at $39,000 after acquiring an additional 3,303 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of CVRx in the 2nd quarter valued at about $59,000. R Squared Ltd purchased a new stake in shares of CVRx in the fourth quarter worth approximately $74,000. Finally, AlphaQuest LLC boosted its holdings in shares of CVRx by 114.6% during the second quarter. AlphaQuest LLC now owns 13,106 shares of the company’s stock worth $77,000 after purchasing an additional 6,998 shares during the period. 75.27% of the stock is owned by institutional investors and hedge funds.

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.