Brokerages Set Carlsmed, Inc. (NASDAQ:CARL) Target Price at $21.33

Carlsmed, Inc. (NASDAQ:CARL) has been given a consensus recommendation of “Hold” by the five brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $21.3333.

Several brokerages recently issued reports on CARL. Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Carlsmed in a report on Monday, December 22nd. Wall Street Zen upgraded Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Zacks Research lowered shares of Carlsmed from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group reissued a “buy” rating and issued a $20.00 price objective on shares of Carlsmed in a research note on Friday, January 9th. Finally, BTIG Research restated a “buy” rating and set a $24.00 target price on shares of Carlsmed in a research report on Monday, December 15th.

Carlsmed Trading Up 0.1%

CARL stock opened at $14.57 on Friday. The company has a current ratio of 8.87, a quick ratio of 8.74 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average is $12.68. Carlsmed has a 52 week low of $10.65 and a 52 week high of $17.19. The stock has a market capitalization of $389.46 million and a P/E ratio of -3.98.

Carlsmed (NASDAQ:CARL) last issued its earnings results on Wednesday, February 25th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.11. The company had revenue of $15.16 million during the quarter, compared to analysts’ expectations of $15.20 million. Carlsmed had a negative net margin of 58.67% and a negative return on equity of 72.60%.

Institutional Investors Weigh In On Carlsmed

A number of large investors have recently bought and sold shares of CARL. Orbimed Advisors LLC acquired a new position in shares of Carlsmed in the third quarter worth $16,772,000. Janus Henderson Group PLC raised its stake in Carlsmed by 4.4% in the 4th quarter. Janus Henderson Group PLC now owns 1,140,618 shares of the company’s stock valued at $14,087,000 after purchasing an additional 48,081 shares during the last quarter. Vanguard Group Inc. purchased a new position in Carlsmed in the 3rd quarter valued at about $3,042,000. TD Waterhouse Canada Inc. boosted its stake in shares of Carlsmed by 15.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 175,405 shares of the company’s stock worth $2,154,000 after purchasing an additional 23,163 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Carlsmed during the third quarter worth about $2,343,000.

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”).