BTIG Research Reiterates Buy Rating for Carlsmed (NASDAQ:CARL)

Carlsmed (NASDAQ:CARL)‘s stock had its “buy” rating reiterated by stock analysts at BTIG Research in a report issued on Wednesday,Benzinga reports. They currently have a $23.00 price target on the stock. BTIG Research’s target price indicates a potential upside of 157.85% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Truist Financial decreased their target price on shares of Carlsmed from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. The Goldman Sachs Group decreased their target price on shares of Carlsmed from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Zacks Research upgraded shares of Carlsmed from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Wall Street Zen upgraded shares of Carlsmed from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.33.

Carlsmed Trading Down 1.9%

Shares of CARL opened at $8.92 on Wednesday. The firm’s fifty day moving average is $10.83 and its two-hundred day moving average is $12.21. The company has a quick ratio of 8.74, a current ratio of 8.87 and a debt-to-equity ratio of 0.16. The stock has a market cap of $242.89 million and a PE ratio of -2.44. Carlsmed has a 52-week low of $8.50 and a 52-week high of $17.19.

Carlsmed (NASDAQ:CARL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.11. The firm had revenue of $16.12 million for the quarter. Carlsmed had a negative net margin of 58.67% and a negative return on equity of 72.60%. Research analysts forecast that Carlsmed will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Carlsmed

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its holdings in Carlsmed by 6.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,800 shares of the company’s stock valued at $195,000 after buying an additional 1,000 shares during the period. Barclays PLC raised its holdings in Carlsmed by 10.6% in the 4th quarter. Barclays PLC now owns 10,633 shares of the company’s stock valued at $131,000 after buying an additional 1,021 shares during the period. Russell Investments Group Ltd. raised its holdings in Carlsmed by 0.8% in the 4th quarter. Russell Investments Group Ltd. now owns 160,238 shares of the company’s stock valued at $1,979,000 after buying an additional 1,292 shares during the period. BNP Paribas Financial Markets purchased a new stake in Carlsmed in the 3rd quarter valued at about $33,000. Finally, JPMorgan Chase & Co. purchased a new stake in Carlsmed in the 3rd quarter valued at about $37,000.

Carlsmed Company Profile

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”).