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

CeriBell (NASDAQ:CBLL)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a research note issued on Wednesday,Benzinga reports. They currently have a $33.00 price objective on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 28.27% from the company’s current price.

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

CeriBell Stock Performance

CBLL traded up $0.19 during trading on Wednesday, reaching $25.73. 53,106 shares of the company were exchanged, compared to its average volume of 182,198. CeriBell has a 12-month low of $18.69 and a 12-month high of $32.75. The company has a 50-day simple moving average of $23.43.

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

Hedge Funds Weigh In On CeriBell

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers bought a new stake in CeriBell during the fourth quarter valued at approximately $320,000. Bank of New York Mellon Corp bought a new position in CeriBell in the 4th quarter worth $628,000. Charles Schwab Investment Management Inc. purchased a new position in CeriBell during the fourth quarter valued at $2,500,000. PNC Financial Services Group Inc. purchased a new stake in CeriBell in the fourth quarter worth about $47,000. Finally, Vanguard Group Inc. purchased a new position in shares of CeriBell during the 4th quarter valued at about $18,015,000.

CeriBell Company Profile

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.