CVRx initiated with a Buy at Lake Street

Lake Street analyst Frank Takkinen initiated coverage of CVRx (CVRX) with a Buy rating and $20 price target. The company’s Barostim implantable stimulation device fulfills an unmet need for patients with heart failure, or HF, said Lake Street, which sees the initial addressable market that includes less than 5% of new HF cases in its target markets providing a $2.9B opportunity. CVRx at its current point offers investors the chance to participate in an "Inspire-like growth trajectory and multiple expansion story," said the firm, which adds that extrapolating the Inspire Medical (INSP) scenario "supports a long-term stock opportunity of over $50" for CVRx.