BTIG Research Reiterates Buy Rating for Carlsmed (NASDAQ:CARL)

Key Points

• BTIG Research reiterated a "buy" on Carlsmed with a $23 price target, which implies roughly a 157.85% upside from the stock's current level.
• Analyst coverage is mixed—three Buys, one Hold and one Sell—leaving a MarketBeat average rating of "Hold" and a consensus target of $19.33.
• Carlsmed trades around $8.92 with a $243M market cap, reported Q1 EPS of ($0.32) (beat vs. ($0.43)) and carries negative margins and a negative P/E, with a 52‑week low near $8.50.

Carlsmed (NASDAQ:CARL - Get Free Report)'s stock had its "buy" rating restated by investment analysts at BTIG Research in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $23.00 target price on the stock. BTIG Research's price objective would suggest a potential upside of 157.85% from the stock's current price.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group cut their target price on shares of Carlsmed from $19.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, April 9th. Zacks Research raised shares of Carlsmed from a "strong sell" rating to a "hold" rating in a report on Thursday, March 26th. Truist Financial cut their target price on shares of Carlsmed from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, April 15th. Finally, Wall Street Zen raised shares of Carlsmed from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $19.33.

Carlsmed Stock Down 1.9%

Carlsmed stock opened at $8.92 on Wednesday. The company has a quick ratio of 8.74, a current ratio of 8.87 and a debt-to-equity ratio of 0.16. The firm has a market cap of $242.89 million and a price-to-earnings ratio of -2.44. The business's 50-day moving average price is $10.83 and its 200 day moving average price is $12.21. Carlsmed has a 52 week low of $8.50 and a 52 week high of $17.19.

Carlsmed (NASDAQ:CARL - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.11. The firm had revenue of $16.12 million during the quarter. Carlsmed had a negative net margin of 58.67% and a negative return on equity of 72.60%. As a group, sell-side analysts anticipate that Carlsmed will post -1.66 earnings per share for the current year.

Institutional Investors Weigh In On Carlsmed

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new stake in Carlsmed during the 3rd quarter worth $33,000. JPMorgan Chase & Co. acquired a new stake in Carlsmed during the 3rd quarter worth $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Carlsmed during the 3rd quarter worth $42,000. Rhumbline Advisers acquired a new stake in Carlsmed during the 3rd quarter worth $79,000. Finally, Wells Fargo & Company MN boosted its stake in Carlsmed by 61.7% during the 4th quarter. Wells Fargo & Company MN now owns 7,834 shares of the company's stock worth $97,000 after purchasing an additional 2,989 shares during the last quarter.

Carlsmed Company Profile

We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient's unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”).

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