Carlsmed (NASDAQ:CARL) Coverage Initiated at Needham & Company LLC

Stock analysts at Needham & Company LLC started coverage on shares of Carlsmed (NASDAQ:CARL) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $17.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 63.78% from the company’s current price.

A number of other brokerages have also recently issued reports on CARL. Weiss Ratings cut Carlsmed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. Wall Street Zen raised shares of Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group lowered their target price on shares of Carlsmed from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. BTIG Research reaffirmed a “buy” rating and set a $23.00 price target on shares of Carlsmed in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Carlsmed from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.75.

Carlsmed Price Performance

CARL stock opened at $10.38 on Wednesday. The company has a current ratio of 11.88, a quick ratio of 11.67 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $10.70 and a two-hundred day moving average price of $11.51. The stock has a market cap of $282.13 million and a PE ratio of -4.14. Carlsmed has a 1 year low of $8.50 and a 1 year high of $17.19.

Carlsmed (NASDAQ:CARL) last released its earnings results on Tuesday, May 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.11. Carlsmed had a negative return on equity of 60.74% and a negative net margin of 57.76%.The business had revenue of $16.12 million for the quarter. Equities analysts forecast that Carlsmed will post -1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Carlsmed

A number of large investors 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 valued at $33,000. JPMorgan Chase & Co. acquired a new position in shares of Carlsmed in the third quarter valued at $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Carlsmed in the third quarter valued at about $42,000. Rhumbline Advisers acquired a new stake in shares of Carlsmed during the 3rd quarter worth about $79,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of 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 buying an additional 2,989 shares during the period.

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”).