CeriBell (NASDAQ:CBLL) Price Target Raised to $30.00 at Canaccord Genuity Group

CeriBell (NASDAQ:CBLL) had its target price hoisted by Canaccord Genuity Group from $29.00 to $30.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also weighed in on the company. Cowen reissued a “buy” rating on shares of CeriBell in a report on Tuesday, December 9th. BTIG Research reissued a “buy” rating and issued a $30.00 price objective on shares of CeriBell in a research note on Monday. JPMorgan Chase & Co. cut their target price on shares of CeriBell from $21.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Raymond James Financial assumed coverage on shares of CeriBell in a research report on Tuesday, October 21st. They issued a “strong-buy” rating and a $19.00 price target on the stock. Finally, TD Cowen cut their price objective on CeriBell from $36.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, CeriBell has an average rating of “Moderate Buy” and a consensus price target of $24.67.

CeriBell Trading Down 1.8%

Shares of CeriBell stock opened at $21.59 on Wednesday. The company has a 50-day moving average of $14.90 and a two-hundred day moving average of $14.61. CeriBell has a 12-month low of $10.01 and a 12-month high of $28.43. The company has a current ratio of 12.65, a quick ratio of 12.25 and a debt-to-equity ratio of 0.12. The stock has a market cap of $800.99 million, a PE ratio of -14.30 and a beta of 1.35.

CeriBell (NASDAQ:CBLL) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.06. CeriBell had a negative return on equity of 29.63% and a negative net margin of 63.35%.The business had revenue of $22.59 million for the quarter, compared to analysts’ expectations of $21.78 million. On average, research analysts anticipate that CeriBell will post -2.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other CeriBell news, Director William W. Burke sold 32,728 shares of CeriBell stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $22.02, for a total value of $720,670.56. Following the completion of the sale, the director directly owned 17,391 shares of the company’s stock, valued at approximately $382,949.82. The trade was a 65.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Josef Parvizi sold 25,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $21.49, for a total value of $537,250.00. Following the transaction, the director directly owned 772,652 shares in the company, valued at approximately $16,604,291.48. This represents a 3.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 227,156 shares of company stock valued at $4,020,822. 20.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CeriBell

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in CeriBell during the third quarter worth about $33,000. Tower Research Capital LLC TRC increased its stake in shares of 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. boosted its position in shares of CeriBell by 97.5% in the second 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 last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in CeriBell by 161.0% in the second 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 period. Finally, Sherbrooke Park Advisers LLC acquired a new position in CeriBell during the third quarter worth approximately $135,000.

About CeriBell

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.