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On Monday, Cantor Fitzgerald maintained its Overweight rating on CVRx Inc (NASDAQ:CVRX) with a steady price target of $20.00, following the company’s preannouncement of first-quarter 2025 revenues. The stock has faced significant pressure recently, dropping 46% in the past week and currently trading near its 52-week low of $5.87. According to InvestingPro data, the stock’s RSI suggests it’s in oversold territory. CVRx reported approximately $12.3 million in revenue, reflecting a year-over-year growth of around 15%. This figure fell short of both Cantor’s and FactSet Consensus estimates, which were pegged at $14.7 million.
The shortfall in revenue was primarily attributed to the underperformance of newer sales representatives. CVRx has been in the process of rebuilding its sales team and has experienced deeper than expected cuts, resulting in a lower number of experienced representatives. Additionally, the company observed a seasonal decline in procedures related to patient insurance dynamics, which appeared to be more pronounced this year compared to previous years.
Despite the missed revenue target, CVRx reported an increase in active implanting centers, with four more centers added quarter-over-quarter. By the end of the first quarter of 2025, the company operated 227 centers. CVRx also concluded the quarter with a strong cash position, holding approximately $102.7 million.
The reiteration of the Overweight rating by Cantor Fitzgerald indicates the firm’s continued confidence in CVRx’s stock potential, despite the recent challenges faced in sales and market dynamics. The maintained $20.00 price target suggests that the firm believes in the company’s capacity to overcome these hurdles and achieve its financial goals.
In other recent news, CVRx Inc reported preliminary first-quarter 2025 revenues of approximately $12.3 million, reflecting a year-over-year growth of about 15%. This figure, however, did not meet the expectations set by analysts from Cantor Fitzgerald and Canaccord Genuity, who anticipated revenues of $14.7 million and $14.5 million, respectively. Despite the shortfall, the company saw an increase in active implanting centers, ending the quarter with 227 centers. CVRx attributed the revenue miss to underperformance by newer sales representatives and seasonal declines in procedures, which were more pronounced due to patient insurance dynamics.
Cantor Fitzgerald maintained its Overweight rating on CVRx with a $20 price target, while Canaccord Genuity adjusted its price target to $18 from $23 but kept a Buy rating. Both firms acknowledged the challenges faced by CVRx but highlighted the company’s potential for growth. Cantor Fitzgerald also pointed out the positive impact of regulatory approvals for CVRx’s Barostim therapy, which is expected to enhance reimbursement rates. Additionally, recent real-world evidence presented at a conference demonstrated significant reductions in hospital visits for patients with the Barostim implant, indicating strong effectiveness in treating heart failure.
CVRx’s financial position was further strengthened by issuing 543.5 thousand common shares through an at-the-market offering, raising $9.5 million in gross proceeds. The company continues to focus on expanding its sales organization and increasing awareness of its Barostim therapy. Analysts from Cantor Fitzgerald believe that these developments, along with a favorable reimbursement environment, present a strong buying opportunity for investors.
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