Analysts Set Carlsmed, Inc. (NASDAQ:CARL) PT at $18.75

Shares of Carlsmed, Inc. (NASDAQ:CARL) have been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.75.

CARL has been the subject of a number of recent research reports. Truist Financial lowered their price target on shares of Carlsmed from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. The Goldman Sachs Group lowered their target price on shares of Carlsmed from $19.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, April 9th. BTIG Research restated a “buy” rating and issued a $23.00 price target on shares of Carlsmed in a research note on Wednesday, May 6th. Wall Street Zen cut Carlsmed from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Finally, Weiss Ratings downgraded Carlsmed from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 24th.

Institutional Trading of Carlsmed

Several institutional investors have recently bought and sold shares of CARL. BNP Paribas Financial Markets bought a new position in Carlsmed in the third quarter valued at about $33,000. JPMorgan Chase & Co. purchased a new stake in shares of Carlsmed during the 3rd quarter valued at about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Carlsmed during the 3rd quarter valued at about $42,000. Rhumbline Advisers bought a new position in shares of Carlsmed in the 3rd quarter worth approximately $79,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Carlsmed by 61.7% in the fourth 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 last quarter.

Carlsmed Stock Performance

NASDAQ CARL opened at $12.59 on Monday. The firm has a market capitalization of $342.20 million and a PE ratio of -5.02. The stock’s 50 day moving average is $11.35 and its 200 day moving average is $11.32. Carlsmed has a twelve month low of $8.50 and a twelve month high of $17.19. The company has a quick ratio of 11.67, a current ratio of 11.88 and a debt-to-equity ratio of 0.17.

Carlsmed (NASDAQ:CARL) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter. Research analysts forecast that Carlsmed will post -1.47 earnings per share for the current fiscal year.

About Carlsmed

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”).