Canaccord Genuity Group Forecasts Strong Price Appreciation for CeriBell (NASDAQ:CBLL) Stock

CeriBell (NASDAQ:CBLL) had its price objective raised by research analysts at Canaccord Genuity Group from $31.00 to $33.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 12.36% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Bank of America started coverage on shares of CeriBell in a report on Tuesday, November 5th. They issued a “buy” rating and a $32.00 target price on the stock. TD Cowen assumed coverage on shares of CeriBell in a research note on Tuesday, November 5th. They issued a “buy” rating and a $31.00 target price for the company. Canaccord Genuity Group started coverage on CeriBell in a research note on Tuesday, November 5th. They set a “buy” rating and a $30.00 price target on the stock. JPMorgan Chase & Co. started coverage on CeriBell in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $32.00 target price for the company. Finally, William Blair assumed coverage on CeriBell in a research note on Tuesday, November 5th. They issued an “outperform” rating on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $31.60.

CeriBell Stock Performance

CBLL traded down $0.87 during midday trading on Monday, reaching $29.37. 46,246 shares of the company’s stock were exchanged, compared to its average volume of 194,420. CeriBell has a 1-year low of $23.00 and a 1-year high of $32.54.

CeriBell (NASDAQ:CBLL) last posted its earnings results on Tuesday, November 12th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.03). The company had revenue of $17.20 million during the quarter, compared to analysts’ expectations of $17.06 million. On average, equities research analysts expect that CeriBell will post -2.46 earnings per share for the current year.

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.