Canaccord Genuity Group Reaffirms Buy Rating for CeriBell (NASDAQ:CBLL)

CeriBell (NASDAQ:CBLL)‘s stock had its “buy” rating reaffirmed by Canaccord Genuity Group in a report released on Wednesday,Benzinga reports. They currently have a $33.00 price objective on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 28.27% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Bank of America started coverage on CeriBell in a research report on Tuesday, November 5th. They set a “buy” rating and a $32.00 target price on the stock. Canaccord Genuity Group started coverage on CeriBell in a research note on Tuesday, November 5th. They issued a “buy” rating and a $30.00 target price on the stock. William Blair started coverage on shares of CeriBell in a research report on Tuesday, November 5th. They set an “outperform” rating for the company. TD Cowen lifted their price objective on shares of CeriBell from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. started coverage on CeriBell in a research report on Tuesday, November 5th. They set an “overweight” rating and a $32.00 price target on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $32.60.

CeriBell Price Performance

CeriBell stock traded up $0.19 during midday trading on Wednesday, reaching $25.73. The stock had a trading volume of 53,106 shares, compared to its average volume of 182,198. The stock has a fifty day simple moving average of $23.43. CeriBell has a 52-week low of $18.69 and a 52-week high of $32.75.

CeriBell (NASDAQ:CBLL) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). The company had revenue of $18.53 million for the quarter, compared to the consensus estimate of $17.55 million. Research analysts anticipate that CeriBell will post -2.46 earnings per share for the current fiscal year.

Institutional Trading of CeriBell

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBLL. FMR LLC acquired a new stake in shares of CeriBell during the fourth quarter worth about $128,120,000. TPG GP A LLC purchased a new position in shares of CeriBell during the 4th quarter valued at approximately $102,677,000. Red Tree Management LLC acquired a new stake in shares of CeriBell during the 4th quarter valued at about $57,083,000. Yu Fan acquired a new stake in CeriBell in the fourth quarter valued at approximately $31,631,000. Finally, ABG WTT Global Life Science Capital Partners GP Ltd purchased a new position in shares of CeriBell during the 4th quarter valued at approximately $28,160,000.

About CeriBell

We are a commercial-stage medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions. We have developed the Ceribell System, a novel, point-of-care electroencephalography (“EEG”) platform specifically designed to address the unmet needs of patients in the acute care setting.