TD Cowen Issues Positive Forecast for CeriBell (NASDAQ:CBLL) Stock Price

CeriBell (NASDAQ:CBLL – Get Free Report) had its target price lifted by analysts at TD Cowen from $29.00 to $33.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 38.57% from the company’s current price.

A number of other research firms have also recently issued reports on CBLL. Weiss Ratings upgraded CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Canaccord Genuity Group raised their price target on shares of CeriBell from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Barclays raised shares of CeriBell to a “neutral” rating in a report on Tuesday, August 18th. BTIG Research reissued a “buy” rating and issued a $30.00 price objective on shares of CeriBell in a research note on Friday, September 11th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $29.00 target price on shares of CeriBell in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Read Our Latest Stock Report on CeriBell

CeriBell Price Performance

CBLL traded up $0.20 during trading on Friday, hitting $23.82. 19,494 shares of the stock traded hands, compared to its average volume of 343,054. The business has a 50 day moving average price of $22.64 and a 200 day moving average price of $20.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 9.18 and a quick ratio of 8.79. CeriBell has a twelve month low of $10.85 and a twelve month high of $25.63. The company has a market cap of $914.02 million, a price-to-earnings ratio of -13.53 and a beta of 0.94.

CeriBell (NASDAQ:CBLL – Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.04). CeriBell had a negative net margin of 64.73% and a negative return on equity of 44.85%. The business had revenue of $28.10 million during the quarter, compared to analyst estimates of $27.28 million. Equities research analysts forecast that CeriBell will post -1.96 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Xingjuan Chao sold 39,540 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $24.61, for a total transaction of $973,079.40. Following the completion of the sale, the chief executive officer directly owned 767,191 shares in the company, valued at $18,880,570.51. This represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Scott Blumberg sold 33,512 shares of CeriBell stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $25.03, for a total transaction of $838,805.36. Following the transaction, the chief financial officer directly owned 148,121 shares of the company’s stock, valued at $3,707,468.63. This represents a 18.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 209,018 shares of company stock worth $4,969,950. 17.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CBLL. TimesSquare Capital Management LLC bought a new stake in shares of CeriBell during the 2nd quarter valued at about $15,182,000. Bank of New York Mellon Corp acquired a new position in CeriBell in the second quarter valued at approximately $17,437,000. BlackRock Inc. acquired a new position in CeriBell in the second quarter valued at approximately $37,657,000. Deutsche Bank AG bought a new position in shares of CeriBell during the 2nd quarter worth approximately $1,742,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of CeriBell in the 2nd quarter valued at $2,078,000.

CeriBell Company Profile

(Get Free Report)

Ceribell, Inc (NASDAQ: CBLL) is a medical technology company focused on improving the detection and management of seizures and other neurological conditions in hospital settings. Its products are designed to make electroencephalography (EEG) more accessible at the point of care, particularly in emergency departments, intensive care units and other settings where conventional EEG testing may be delayed or difficult to obtain.

The company’s primary offering is the Ceribell Rapid Response EEG system, which combines a portable EEG recorder, a simplified electrode headband and software for acquiring and reviewing brain-wave data.

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Analyst Recommendations for CeriBell (NASDAQ:CBLL)

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