CeriBell, Inc. (NASDAQ:CBLL) Stock Has Consensus Price Target of $24.40 According to Brokerages

Shares of CeriBell, Inc. (NASDAQ:CBLL) have received an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $24.40.

Several equities analysts have recently issued reports on CBLL shares. Raymond James Financial reissued a “strong-buy” rating and issued a $29.00 price target on shares of CeriBell in a report on Thursday, September 3rd. BTIG Research reiterated a “buy” rating and set a $30.00 target price on shares of CeriBell in a report on Friday, September 11th. Weiss Ratings raised CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Barclays upgraded CeriBell to a “neutral” rating in a report on Tuesday, August 18th. Finally, Canaccord Genuity Group lifted their price objective on 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, CFO Scott Blumberg sold 1,521 shares of CeriBell stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $24.02, for a total value of $36,534.42. Following the transaction, the chief financial officer owned 146,600 shares of the company’s stock, valued at approximately $3,521,332. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP David Foehr sold 9,255 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president owned 34,144 shares of the company’s stock, valued at $827,992. This trade represents a 21.33% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 211,225 shares of company stock worth $5,013,736. Corporate insiders own 17.70% of the company’s stock.

Hedge Funds Weigh In On CeriBell

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in CeriBell during the 2nd quarter worth approximately $37,657,000. Bank of New York Mellon Corp acquired a new stake in shares of CeriBell in the second quarter valued at approximately $17,437,000. TimesSquare Capital Management LLC bought a new stake in shares of CeriBell in the second quarter worth $15,182,000. Royce & Associates LP bought a new stake in shares of CeriBell in the fourth quarter worth $11,695,000. Finally, KCM Capital Inc boosted its holdings in CeriBell by 40.0% during the first quarter. KCM Capital Inc now owns 1,400,000 shares of the company’s stock worth $25,662,000 after purchasing an additional 400,000 shares during the last quarter.

CeriBell Stock Up 0.8%

CeriBell stock opened at $23.82 on Friday. The firm has a market capitalization of $914.21 million, a price-to-earnings ratio of -13.53 and a beta of 0.95. The company’s 50 day simple moving average is $21.98 and its 200 day simple moving average is $20.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 9.18 and a quick ratio of 8.79. CeriBell has a fifty-two week low of $10.85 and a fifty-two week high of $25.63.

CeriBell (NASDAQ:CBLL) last issued its earnings results on Monday, August 10th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.04). The firm had revenue of $28.10 million during the quarter, compared to the consensus estimate of $27.28 million. CeriBell had a negative net margin of 64.73% and a negative return on equity of 44.85%. As a group, sell-side analysts anticipate that CeriBell will post -1.96 EPS for the current year.

CeriBell Company Profile

Ceribell, Inc (NASDAQ: CBLL) is a medical technology company focused on improving the detection and management of seizures and other neurological conditions in hospital settings. Its products are designed to make electroencephalography (EEG) more accessible at the point of care, particularly in emergency departments, intensive care units and other settings where conventional EEG testing may be delayed or difficult to obtain.

The company’s primary offering is the Ceribell Rapid Response EEG system, which combines a portable EEG recorder, a simplified electrode headband and software for acquiring and reviewing brain-wave data.