CeriBell (NASDAQ:CBLL) Price Target Raised to $30.00

CeriBell (NASDAQ:CBLL) had its price objective upped by Canaccord Genuity Group from $29.00 to $30.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Raymond James Financial assumed coverage on shares of CeriBell in a research note on Tuesday, October 21st. They set a “strong-buy” rating and a $19.00 target price on the stock. JPMorgan Chase & Co. dropped their price objective on shares of CeriBell from $21.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Cowen reaffirmed a “buy” rating on shares of CeriBell in a research report on Tuesday, December 9th. BTIG Research reiterated a “buy” rating and set a $30.00 target price on shares of CeriBell in a research note on Monday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of CeriBell in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CeriBell currently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

CeriBell Stock Down 0.7%

Shares of NASDAQ CBLL opened at $21.20 on Wednesday. The stock has a market cap of $786.52 million, a P/E ratio of -14.04 and a beta of 1.35. The business’s fifty day simple moving average is $15.25 and its 200-day simple moving average is $14.69. CeriBell has a 12-month low of $10.01 and a 12-month high of $28.23. The company has a current ratio of 12.65, a quick ratio of 12.25 and a debt-to-equity ratio of 0.12.

CeriBell (NASDAQ:CBLL) last released its earnings results on Tuesday, November 4th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.06. The firm had revenue of $22.59 million during the quarter, compared to analysts’ expectations of $21.78 million. CeriBell had a negative return on equity of 29.63% and a negative net margin of 63.35%. As a group, equities analysts predict that CeriBell will post -2.46 EPS for the current fiscal year.

Insider Transactions at CeriBell

In related news, CTO Raymond Woo sold 11,112 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $12.28, for a total value of $136,455.36. Following the completion of the sale, the chief technology officer directly owned 167,704 shares of the company’s stock, valued at $2,059,405.12. The trade was a 6.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William W. Burke sold 32,728 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $22.02, for a total transaction of $720,670.56. Following the completion of the transaction, the director owned 17,391 shares of the company’s stock, valued at $382,949.82. This represents a 65.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 227,156 shares of company stock worth $4,020,822. Insiders own 20.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CBLL. Vanguard Group Inc. lifted its stake in CeriBell by 11.1% in the third quarter. Vanguard Group Inc. now owns 1,473,856 shares of the company’s stock valued at $16,935,000 after buying an additional 147,013 shares during the last quarter. Yu Fan raised its position in CeriBell by 10.7% in the 2nd quarter. Yu Fan now owns 1,353,166 shares of the company’s stock valued at $25,345,000 after purchasing an additional 130,964 shares during the last quarter. Novo Holdings A S boosted its stake in CeriBell by 2.3% during the 2nd quarter. Novo Holdings A S now owns 900,000 shares of the company’s stock worth $16,857,000 after purchasing an additional 20,000 shares during the period. TimesSquare Capital Management LLC grew its position in CeriBell by 2.6% during the 3rd quarter. TimesSquare Capital Management LLC now owns 817,645 shares of the company’s stock worth $9,395,000 after purchasing an additional 20,700 shares during the last quarter. Finally, Millennium Management LLC increased its stake in CeriBell by 41.8% in the third quarter. Millennium Management LLC now owns 666,448 shares of the company’s stock valued at $7,657,000 after purchasing an additional 196,299 shares during the period.

CeriBell Company Profile

CeriBell Corp (NASDAQ: CBLL) is a healthcare technology company specializing in the design, manufacture and sale of automated newborn hearing screening devices. The company offers a suite of medical diagnostic tools based on otoacoustic emissions (OAE) and auditory brainstem response (ABR) technologies, enabling early detection of auditory impairments in infants. CeriBell’s solutions are used in hospitals, birthing centers and audiology clinics to support universal newborn hearing screening programs aimed at improving language development outcomes through prompt intervention.

The company’s product portfolio includes handheld and desktop screening units, proprietary software for data management, and accessories designed to streamline testing workflows.