CeriBell (NASDAQ:CBLL) Price Target Raised to $33.00

CeriBell (NASDAQ:CBLL) had its price objective hoisted by TD Cowen from $29.00 to $33.00 in a research report released on Friday morning, Marketbeat reports. TD Cowen currently has a buy rating on the stock.

CBLL has been the subject of several other reports. Canaccord Genuity Group raised their target price on shares of CeriBell from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Raymond James Financial reiterated a “strong-buy” rating and set a $29.00 price target on shares of CeriBell in a research report on Thursday, September 3rd. BTIG Research restated a “buy” rating and issued a $30.00 price objective 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 report on Monday, September 14th. Finally, Barclays upgraded CeriBell to a “neutral” rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CeriBell currently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

CeriBell Price Performance

CBLL opened at $23.69 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.79 and a current ratio of 9.18. The stock has a market capitalization of $909.22 million, a PE ratio of -13.46 and a beta of 0.94. The stock’s 50 day moving average price is $22.78 and its 200-day moving average price is $20.24. CeriBell has a 52-week low of $10.85 and a 52-week high of $25.63.

CeriBell (NASDAQ:CBLL) last announced its quarterly 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 business had revenue of $28.10 million during the quarter, compared to analysts’ expectations 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 research analysts predict that CeriBell will post -1.96 EPS for the current year.

Insider Transactions at CeriBell

In related news, VP David Foehr sold 9,255 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $24.25, for a total value of $224,433.75. Following the completion of the transaction, the vice president directly owned 34,144 shares in the company, valued at $827,992. This trade represents a 21.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Xingjuan Chao sold 20,846 shares of CeriBell stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $25.03, for a total transaction of $521,775.38. Following the transaction, the chief executive officer directly owned 746,345 shares of the company’s stock, valued at approximately $18,681,015.35. This trade represents a 2.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 213,905 shares of company stock worth $5,089,095. 17.70% of the stock is owned by insiders.

Institutional Trading of CeriBell

A number of hedge funds have recently made changes to their positions in the stock. Strs Ohio bought a new position in CeriBell during the 1st quarter valued at approximately $27,000. Legal & General Group Plc purchased a new position in CeriBell during the second quarter valued at $53,000. Caitong International Asset Management Co. Ltd boosted its holdings in CeriBell by 8,735.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,739 shares of the company’s stock worth $60,000 after acquiring an additional 2,708 shares in the last quarter. State of Wyoming purchased a new stake in shares of CeriBell in the first quarter worth $62,000. Finally, Quantbot Technologies LP purchased a new stake in shares of CeriBell in the second quarter worth $112,000.

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.