Wall Street Zen Upgrades CVRx (NASDAQ:CVRX) to Hold

CVRx (NASDAQ:CVRX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts have also recently weighed in on the company. Weiss Ratings cut CVRx from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. Canaccord Genuity Group reissued a “buy” rating and set a $10.00 price objective on shares of CVRx in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, CVRx has a consensus rating of “Buy” and an average price target of $11.50.

CVRx Stock Up 11.6%

CVRx stock opened at $5.86 on Friday. The company has a current ratio of 10.20, a quick ratio of 8.89 and a debt-to-equity ratio of 2.01. CVRx has a 1-year low of $4.37 and a 1-year high of $11.30. The firm’s fifty day simple moving average is $6.07 and its 200-day simple moving average is $6.99. The company has a market capitalization of $155.52 million, a P/E ratio of -2.90 and a beta of 0.80.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.01. The firm had revenue of $14.77 million during the quarter, compared to analysts’ expectations of $14.49 million. CVRx had a negative net margin of 89.14% and a negative return on equity of 120.76%. Sell-side analysts forecast that CVRx will post -1.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in 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 buying an additional 3,303 shares during the last quarter. R Squared Ltd acquired a new position in CVRx during the 4th quarter worth $74,000. Aaron Wealth Advisors LLC acquired a new position in CVRx during the 1st quarter worth $101,000. Virtu Financial LLC bought a new stake in CVRx during the fourth quarter valued at about $79,000. Finally, Corient Private Wealth LLC bought a new stake in CVRx during the fourth quarter valued at about $81,000. 75.27% of the stock is currently 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.