CeriBell (NASDAQ:CBLL) Shares Down 2.6% – Here’s What Happened

CeriBell (NASDAQ:CBLL)’s stock price dropped 2.6% on Thursday . The stock traded as low as $26.28 and last traded at $26.29. Approximately 85,309 shares were traded during trading, a decline of 65% from the average daily volume of 246,355 shares. The stock had previously closed at $26.98.

Analyst Ratings Changes

Several analysts recently commented on the stock. William Blair assumed coverage on shares of CeriBell in a report on Tuesday, November 5th. They set an “outperform” rating for the company. TD Cowen lifted their target price on shares of CeriBell from $31.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. assumed coverage on shares of CeriBell in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $32.00 price target on the stock. Canaccord Genuity Group lifted their price objective on CeriBell from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Bank of America assumed coverage on CeriBell in a research report on Tuesday, November 5th. They issued a “buy” rating and a $32.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CeriBell presently has an average rating of “Buy” and a consensus price target of $32.60.

CeriBell Price Performance

CeriBell (NASDAQ:CBLL) last released its quarterly 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 business had revenue of $17.20 million for the quarter, compared to the consensus estimate of $17.06 million. On average, sell-side analysts expect that CeriBell will post -2.46 earnings per share for the current fiscal year.

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.