CeriBell, Inc. (NASDAQ:CBLL) Stock Has Consensus Target Price of $27.00 According to Analysts

Shares of CeriBell, Inc. (NASDAQ:CBLL) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $27.00.

CBLL has been the topic of several research analyst reports. Barclays raised CeriBell to a “neutral” rating in a research report on Tuesday, August 18th. Weiss Ratings raised CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. BTIG Research reissued a “buy” rating and issued a $30.00 price objective on shares of CeriBell in a report on Friday, September 11th. TD Cowen raised their target price on shares of CeriBell from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Finally, Canaccord Genuity Group lifted their target price on shares of CeriBell from $25.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, August 11th.

Insider Activity

In other CeriBell news, VP David Foehr sold 9,255 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $24.25, for a total transaction of $224,433.75. Following the transaction, the vice president directly owned 34,144 shares of the company’s stock, valued at approximately $827,992. This trade represents a 21.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Joseph Manni sold 1,361 shares of CeriBell stock in a transaction on Friday, August 21st. The shares were sold at an average price of $24.02, for a total transaction of $32,691.22. Following the completion of the transaction, the executive owned 55,956 shares in the company, valued at approximately $1,344,063.12. This represents a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 174,905 shares of company stock worth $4,312,995 over the last 90 days. 17.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CeriBell

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new stake in CeriBell during the 2nd quarter worth approximately $638,000. Wellington Management Group LLP increased its holdings in shares of CeriBell by 5.5% in the second quarter. Wellington Management Group LLP now owns 87,698 shares of the company’s stock valued at $1,706,000 after purchasing an additional 4,572 shares during the period. Formula Growth Ltd. acquired a new position in shares of CeriBell in the second quarter valued at approximately $603,000. Bank of America Corp DE purchased a new stake in shares of CeriBell during the second quarter worth approximately $4,619,000. Finally, PDT Partners LLC purchased a new stake in shares of CeriBell during the second quarter worth approximately $1,026,000.

CeriBell Trading Up 3.8%

Shares of CeriBell stock opened at $26.00 on Tuesday. The company has a fifty day simple moving average of $24.29 and a 200-day simple moving average of $20.74. The stock has a market cap of $997.88 million, a price-to-earnings ratio of -14.77 and a beta of 0.94. CeriBell has a 12-month low of $10.85 and a 12-month high of $27.94. The company has a current ratio of 9.18, a quick ratio of 8.79 and a debt-to-equity ratio of 0.16.

CeriBell (NASDAQ:CBLL) last posted its earnings results on Monday, August 10th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.04). The firm had revenue of $28.10 million for the quarter, compared to analyst estimates of $27.28 million. CeriBell had a negative return on equity of 44.85% and a negative net margin of 64.73%. On average, equities analysts forecast that CeriBell will post -1.96 EPS for the current fiscal year.

CeriBell Company Profile

CeriBell, Inc develops medical technology designed to make electroencephalography (EEG) more accessible in acute-care settings. Its primary product is the Ceribell Rapid Response EEG system, a portable, point-of-care platform that enables clinicians to record and assess brain activity at the bedside, including when evaluating patients for seizures and status epilepticus.

The Ceribell system combines a simplified EEG headband and recording device with software that supports rapid interpretation.