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Investing.com - CVRx Inc (NASDAQ:CVRX) maintained its Buy rating and $11.00 price target at Canaccord Genuity following the Centers for Medicare & Medicaid Services (CMS) publication of its 2026 payment final rule.
CMS has kept CVRx’s Barostim procedure assigned to New Technology APC 1580 for 2026, as initially proposed, providing payment stability for the company’s neurostimulation therapy.
The decision comes despite efforts by CVRx and other industry participants to establish a permanent level six neurostimulator APC, with CMS stating it believes the current 5-level APC structure remains appropriate while individual temporary New Technology APC assignments address concerns about procedure payment relative to cost.
Canaccord Genuity calculates the payment rate for CVRx’s procedure will be $45,000.50 in 2026 under the finalized rule.
The firm views the decision positively, noting it removes the downside risk of CMS potentially reassigning the company to the fifth APC band for neurostimulator codes, which had occurred in past proposals.InvestingPro data shows CVRx holds more cash than debt on its balance sheet with a strong current ratio of 9.62, providing financial flexibility as it works toward profitability. According to InvestingPro’s Fair Value model, the stock appears slightly undervalued. Discover 8 more exclusive InvestingPro Tips and access the comprehensive Pro Research Report for CVRx among 1,400+ top stocks at InvestingPro.
In other recent news, CVRx Inc. reported its third-quarter 2025 financial results, with revenue reaching $14.7 million, marking a 10% year-over-year increase. This figure surpassed various forecasts, including Cantor Fitzgerald’s estimate of $14.5 million and the FactSet consensus of $14.1 million. The company’s earnings per share (EPS) showed a slight improvement, with a reported loss of $0.49 compared to the anticipated loss of $0.50. U.S. revenue was particularly strong, reaching $13.5 million, slightly exceeding Canaccord Genuity’s projection of $13.4 million. Following these results, Cantor Fitzgerald raised its price target for CVRx to $13, maintaining an Overweight rating. Similarly, Canaccord Genuity increased its price target to $11, keeping a Buy rating. Despite these positive financial results and raised price targets, CVRx’s stock experienced a decline in after-hours trading.
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