Canaccord Genuity Group Lowers CVRx (NASDAQ:CVRX) Price Target to $17.00

CVRx (NASDAQ:CVRX) had its price objective cut by stock analysts at Canaccord Genuity Group from $30.00 to $17.00 in a report released on Thursday, Stock Target Advisor reports. Canaccord Genuity Group’s target price points to a potential upside of 79.51% from the company’s current price.

A number of other research firms have also issued reports on CVRX. Canaccord Genuity Group lowered their target price on shares of CVRx from $30.00 to $17.00 in a research note on Thursday. Zacks Investment Research upgraded shares of CVRx from a “sell” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $22.37.

CVRx stock opened at $9.47 on Thursday. The firm’s fifty day simple moving average is $12.59. The company has a current ratio of 20.42, a quick ratio of 20.03 and a debt-to-equity ratio of 0.10. CVRx has a 1-year low of $8.88 and a 1-year high of $29.00.

CVRx (NASDAQ:CVRX) last released its quarterly earnings results on Thursday, November 4th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.08. The business had revenue of $3.40 million for the quarter, compared to the consensus estimate of $3.42 million. On average, research analysts expect that CVRx will post -4.01 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of CVRX. Strs Ohio acquired a new stake in CVRx in the 3rd quarter worth $31,000. US Bancorp DE acquired a new stake in shares of CVRx during the 3rd quarter valued at about $32,000. Royal Bank of Canada acquired a new stake in shares of CVRx during the 3rd quarter valued at about $71,000. California State Teachers Retirement System acquired a new stake in shares of CVRx during the 3rd quarter valued at about $73,000. Finally, American International Group Inc. acquired a new stake in shares of CVRx during the 3rd quarter valued at about $74,000. Institutional investors own 69.43% of the company’s stock.

About CVRx

CVRx, Inc develops an implantable technology for the treatment of high blood pressure/hypertension and heart failure patients. It offers BAROSTIM NEO, a neuro-modulation therapy that triggers the body's natural reflex to regulate blood pressure and the underlying causes of the progression of heart failure, which is delivered through a long-lasting implant system, and customized to each patient's individual therapy needs.

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