William Blair analyst Brandon Vazquez has maintained their bullish stance on CVRX stock, giving a Buy rating on November 6.
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Brandon Vazquez has given his Buy rating due to a combination of factors that highlight the promising future prospects of CVRx. A significant factor is the recent publication of the BENEFIT-HF trial on Clinicaltrials.gov, which marks a crucial milestone in CVRx’s clinical and commercial journey. This trial is expected to significantly expand the company’s total addressable market (TAM) in the U.S. by broadening the inclusion criteria for heart failure patients, potentially tripling the TAM.
Another reason for the Buy rating is the potential financial impact of the trial. If CMS agrees to reimburse the Barostim device used in the trial, it could generate substantial revenue, estimated at up to $50 million, from the study alone. Additionally, the trial’s scale may encourage the heart failure community to identify more patients who could benefit from Barostim, further boosting sales. Despite some risks related to the early commercial stage and organizational changes, the current valuation of shares at three times the projected 2026 sales supports a positive outlook.
According to TipRanks, Vazquez is an analyst with an average return of -1.1% and a 48.84% success rate. Vazquez covers the Healthcare sector, focusing on stocks such as Ceribell, Inc., Penumbra, and Dexcom.
In another report released on November 6, Canaccord Genuity also reiterated a Buy rating on the stock with a $11.00 price target.