TD Cowen Cuts CeriBell (NASDAQ:CBLL) Price Target to $20.00

CeriBell (NASDAQ:CBLL) had its price target reduced by TD Cowen from $36.00 to $20.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

CBLL has been the topic of several other research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of CeriBell in a report on Wednesday, October 8th. Raymond James Financial began coverage on shares of CeriBell in a research note on Tuesday, October 21st. They issued a “strong-buy” rating and a $19.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.17.

CeriBell Stock Up 3.6%

Shares of NASDAQ:CBLL opened at $11.98 on Wednesday. The company has a market capitalization of $444.46 million and a price-to-earnings ratio of -7.93. CeriBell has a 12-month low of $10.01 and a 12-month high of $32.75. The business has a 50-day moving average price of $12.07 and a 200 day moving average price of $14.56. The company has a current ratio of 12.65, a quick ratio of 12.91 and a debt-to-equity ratio of 0.12.

CeriBell (NASDAQ:CBLL) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.06. CeriBell had a negative net margin of 63.35% and a negative return on equity of 29.63%. The firm had revenue of $22.59 million for the quarter, compared to analyst estimates of $21.78 million. CeriBell has set its FY 2025 guidance at EPS. Sell-side analysts expect that CeriBell will post -2.46 EPS for the current year.

Insiders Place Their Bets

In other CeriBell news, CTO Raymond Woo sold 11,112 shares of CeriBell stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $12.54, for a total transaction of $139,344.48. Following the completion of the sale, the chief technology officer directly owned 167,704 shares of the company’s stock, valued at $2,103,008.16. The trade was a 6.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 20.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CeriBell

Several hedge funds and other institutional investors have recently made changes to their positions in CBLL. KLP Kapitalforvaltning AS acquired a new stake in shares of CeriBell during the first quarter worth about $36,000. Tower Research Capital LLC TRC raised its stake in CeriBell by 353.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,310 shares of the company’s stock valued at $43,000 after acquiring an additional 1,801 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in CeriBell by 97.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,544 shares of the company’s stock worth $48,000 after acquiring an additional 1,256 shares during the period. New York State Common Retirement Fund acquired a new stake in CeriBell during the 1st quarter worth approximately $67,000. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of CeriBell by 161.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,677 shares of the company’s stock valued at $106,000 after purchasing an additional 3,502 shares during the last quarter.

CeriBell Company Profile

We are a commercial-stage medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions. We have developed the Ceribell System, a novel, point-of-care electroencephalography (“EEG”) platform specifically designed to address the unmet needs of patients in the acute care setting.