Carlsmed, Inc. (NASDAQ:CARL) Given Average Rating of “Moderate Buy” by Analysts

Shares of Carlsmed, Inc. (NASDAQ:CARL) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $18.75.

Several research analysts have recently issued reports on CARL shares. Wall Street Zen upgraded shares of Carlsmed from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Needham & Company LLC started coverage on Carlsmed in a research report on Wednesday. They set a “buy” rating and a $17.00 target price on the stock. BTIG Research restated a “buy” rating and set a $23.00 price target on shares of Carlsmed in a research note on Wednesday, May 6th. Zacks Research upgraded Carlsmed from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Weiss Ratings lowered Carlsmed from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th.

Carlsmed Trading Up 12.8%

Shares of Carlsmed stock opened at $11.71 on Thursday. Carlsmed has a 1 year low of $8.50 and a 1 year high of $17.19. The company’s fifty day simple moving average is $10.71 and its 200-day simple moving average is $11.50. The company has a market cap of $318.28 million and a price-to-earnings ratio of -4.67. The company has a current ratio of 11.88, a quick ratio of 11.67 and a debt-to-equity ratio of 0.17.

Carlsmed (NASDAQ:CARL) last released its earnings results on Tuesday, May 5th. The company reported ($0.32) EPS for the quarter, beating 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. As a group, sell-side analysts expect that Carlsmed will post -1.35 EPS for the current year.

Institutional Investors Weigh In On Carlsmed

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in shares of Carlsmed in the 3rd quarter valued at $33,000. JPMorgan Chase & Co. bought a new stake in Carlsmed in the third quarter valued at about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Carlsmed in the third quarter valued at about $42,000. Rhumbline Advisers acquired a new stake in Carlsmed during the third quarter valued at approximately $79,000. Finally, Wells Fargo & Company MN grew its stake in shares of Carlsmed by 61.7% in the 4th quarter. Wells Fargo & Company MN now owns 7,834 shares of the company’s stock valued at $97,000 after purchasing an additional 2,989 shares during the period.

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”).