CVRx price target lowered to $18 from $23 at Canaccord

Canaccord lowered the firm’s price target on CVRx (CVRX) to $18 from $23 and keeps a Buy rating on the shares. The firm updated its model to reflect both the Q1/25 revenue miss and a lower outlook for the US given the sales force disruption. They also expect the company to continue to invest in growth and therefore operating expenses will stay similar to pre-release estimates.