Analysts Set Carlsmed, Inc. (NASDAQ:CARL) Target Price at $18.75

Shares of Carlsmed, Inc. (NASDAQ:CARL) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $18.75.

Several brokerages have recently issued reports on CARL. Wall Street Zen upgraded Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings upgraded Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Truist Financial cut their target price on shares of Carlsmed from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Zacks Research upgraded Carlsmed from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Needham & Company LLC initiated coverage on Carlsmed in a research note on Wednesday, July 1st. They set a “buy” rating and a $17.00 price objective for the company.

Hedge Funds Weigh In On Carlsmed

Institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its stake in Carlsmed by 6.8% during the fourth 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 in the last quarter. Barclays PLC increased its position in shares of Carlsmed by 10.6% in the fourth quarter. Barclays PLC now owns 10,633 shares of the company’s stock worth $131,000 after acquiring an additional 1,021 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Carlsmed by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 160,238 shares of the company’s stock worth $1,979,000 after acquiring an additional 1,292 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Carlsmed during the third quarter valued at approximately $33,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Carlsmed in the 3rd quarter valued at approximately $37,000.

Carlsmed Trading Down 3.7%

Shares of NASDAQ:CARL opened at $12.11 on Thursday. The company has a quick ratio of 11.67, a current ratio of 11.88 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $10.88 and its 200 day moving average price is $11.47. The company has a market cap of $329.15 million and a PE ratio of -4.82. Carlsmed has a fifty-two week low of $8.50 and a fifty-two week high of $17.19.

Carlsmed (NASDAQ:CARL) last posted its earnings results on Tuesday, May 5th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.11. Carlsmed had a negative net margin of 57.76% and a negative return on equity of 60.74%. The firm had revenue of $16.12 million during the quarter. Sell-side analysts anticipate that Carlsmed will post -1.35 earnings per share for the current year.

About Carlsmed

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”).