CeriBell (NASDAQ:CBLL) Stock Price Expected to Rise, TD Cowen Analyst Says

Key Points

• TD Cowen raised CeriBell’s price target from $29 to $33 and maintained a “buy” rating, implying 38.57% upside from the stock’s $23.82 price. Analysts overall give the company a “Moderate Buy” consensus rating with a $27 average target.
• CeriBell shares rose 0.9% to $23.82, while the company’s latest quarterly revenue of $28.1 million exceeded estimates. However, it reported an adjusted loss of $0.51 per share, wider than the expected $0.47 loss.
• Company insiders have recently sold shares, including the CEO’s sale of 39,540 shares and the CTO’s sale of 4,887 shares; insiders sold 209,018 shares worth nearly $5 million over the past three months.

CeriBell (NASDAQ:CBLL - Get Free Report) had its price objective boosted by TD Cowen from $29.00 to $33.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price objective points to a potential upside of 38.57% from the stock's current price.

Other analysts have also issued reports about the company. Raymond James Financial restated a "strong-buy" rating and issued a $29.00 price target on shares of CeriBell in a report on Thursday, September 3rd. Canaccord Genuity Group boosted their target price on CeriBell from $25.00 to $26.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Barclays raised CeriBell to a "neutral" rating in a research report on Tuesday, August 18th. BTIG Research reiterated a "buy" rating and issued a $30.00 price objective on shares of CeriBell in a report on Friday, September 11th. Finally, Weiss Ratings raised shares of CeriBell from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned 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 price target of $27.00.

CeriBell Trading Up 0.9%

Shares of CBLL traded up $0.20 during trading hours on Friday, reaching $23.82. The stock had a trading volume of 19,494 shares, compared to its average volume of 343,054. The company has a market cap of $914.02 million, a P/E ratio of -13.53 and a beta of 0.94. CeriBell has a 52 week low of $10.85 and a 52 week high of $25.63. The company has a quick ratio of 8.79, a current ratio of 9.18 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $22.64 and a 200 day moving average of $20.21.

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

Insider Activity

In other news, CTO Raymond Woo sold 4,887 shares of CeriBell stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $24.33, for a total value of $118,900.71. Following the completion of the transaction, the chief technology officer owned 203,118 shares of the company's stock, valued at $4,941,860.94. This trade represents a 2.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Xingjuan Chao sold 39,540 shares of the company's stock in a transaction dated 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 approximately $18,880,570.51. The trade was a 4.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 209,018 shares of company stock worth $4,969,950. Corporate insiders own 17.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CBLL. Strs Ohio bought a new position in shares of CeriBell during the first quarter worth approximately $27,000. Legal & General Group Plc bought a new stake in shares of CeriBell in the second quarter valued at approximately $53,000. Caitong International Asset Management Co. Ltd grew its position in CeriBell by 8,735.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,739 shares of the company's stock worth $60,000 after buying an additional 2,708 shares in the last quarter. State of Wyoming bought a new position in CeriBell during the 1st quarter worth $62,000. Finally, Quantbot Technologies LP acquired a new position in CeriBell in the 2nd quarter valued at $112,000.

CeriBell Company Profile

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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