CVRx (NASDAQ:CVRX) Rating Lowered to “Hold” at Craig Hallum

CVRx (NASDAQ:CVRX) was downgraded by stock analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research report issued on Friday, MarketBeat Ratings reports. They currently have a $4.00 price target on the stock. Craig Hallum’s price objective suggests a potential downside of 32.66% from the stock’s current price.

Several other research firms have also commented on CVRX. Piper Sandler lowered shares of CVRx from an “overweight” rating to a “neutral” rating and set a $4.00 target price on the stock. in a report on Friday. Wall Street Zen raised shares of CVRx from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of CVRx in a research report on Monday. Lake Street Capital cut shares of CVRx from a “buy” rating to a “hold” rating and set a $3.50 price objective on the stock. in a research note on Friday. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 price objective on shares of CVRx in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.90.

CVRx Stock Performance

CVRX opened at $5.94 on Friday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 8.89 and a current ratio of 10.20. CVRx has a 52-week low of $4.37 and a 52-week high of $11.30. The firm has a market cap of $157.65 million, a P/E ratio of -2.94 and a beta of 0.81. The business’s fifty day moving average is $5.26 and its 200-day moving average is $6.52.

CVRx (NASDAQ:CVRX) last posted 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). CVRx had a negative net margin of 89.14% and a negative return on equity of 120.76%. The company had revenue of $15.71 million during the quarter, compared to analyst estimates of $15.55 million. Sell-side analysts expect that CVRx will post -1.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC boosted its stake in shares of CVRx by 155.6% in the 4th quarter. Larson Financial Group LLC now owns 5,426 shares of the company’s stock valued at $39,000 after purchasing an additional 3,303 shares in the last quarter. R Squared Ltd bought a new stake in shares of CVRx during the 4th quarter valued at approximately $74,000. Aaron Wealth Advisors LLC acquired a new position in CVRx during the 1st quarter worth approximately $101,000. Virtu Financial LLC acquired a new position in CVRx during the 4th quarter worth approximately $79,000. Finally, Corient Private Wealth LLC bought a new position in CVRx in the 4th quarter valued at approximately $81,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.