BTIG Research Reaffirms “Buy” Rating for Carlsmed (NASDAQ:CARL)

Carlsmed (NASDAQ:CARL)‘s stock had its “buy” rating restated by investment analysts at BTIG Research in a report released on Monday, Benzinga reports. They currently have a $23.00 target price on the stock. BTIG Research’s target price would indicate a potential upside of 63.24% from the company’s previous close.

Several other equities research analysts have also weighed in on CARL. Truist Financial lifted their price target on Carlsmed from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Needham & Company LLC assumed coverage on Carlsmed in a report on Wednesday, July 1st. They issued a “buy” rating and a $17.00 price objective for the company. Wall Street Zen upgraded shares of Carlsmed from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Weiss Ratings raised shares of Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Carlsmed currently has a consensus rating of “Moderate Buy” and an average price target of $19.25.

Carlsmed Price Performance

CARL stock opened at $14.09 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.84 and a quick ratio of 8.66. Carlsmed has a 1 year low of $8.50 and a 1 year high of $17.23. The firm has a 50-day moving average of $14.52 and a 200 day moving average of $12.07. The company has a market cap of $384.66 million, a P/E ratio of -9.85 and a beta of 1.95.

Carlsmed (NASDAQ:CARL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.01. Carlsmed had a negative return on equity of 38.06% and a negative net margin of 57.42%.The business had revenue of $18.94 million for the quarter. On average, sell-side analysts forecast that Carlsmed will post -1.5 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG bought a new stake in Carlsmed in the second quarter worth $106,000. Bank of America Corp DE purchased a new stake in shares of Carlsmed in the second quarter worth $108,000. Alpine Woods Capital Investors LLC bought a new position in shares of Carlsmed during the second quarter valued at $161,000. Bank of New York Mellon Corp purchased a new position in shares of Carlsmed in the 2nd quarter worth about $181,000. Finally, Janus Henderson Group PLC boosted its stake in Carlsmed by 7.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company’s stock worth $11,108,000 after purchasing an additional 86,834 shares in the last quarter.

More Carlsmed News

Here are the key news stories impacting Carlsmed this week:

• Positive Sentiment: BTIG reaffirmed its “Buy” rating and $23 price target, implying substantial upside from the stock’s recent $14.09 level. The endorsement supports investor confidence in Carlsmed’s AI-enabled personalized spine surgery business. BTIG rating and price target
• Positive Sentiment: Carlsmed reaffirmed fiscal 2026 revenue guidance of $74 million to $78 million, a range that broadly brackets the $76.7 million analyst consensus estimate. Maintaining the outlook indicates that management has not identified a material deterioration in demand or execution. Carlsmed 2026 revenue outlook
• Neutral Sentiment: Richard Heppenstall was appointed chief financial officer effective immediately. The company did not announce a change to its revenue outlook, and the appointment could strengthen financial and operational management as Carlsmed scales. Carlsmed appoints Richard Heppenstall CFO
• Negative Sentiment: The abrupt CFO change may create short-term uncertainty around leadership continuity, financial controls, and execution. Investors may seek additional details about the outgoing CFO and the reasons for the transition, particularly because Carlsmed remains unprofitable.

Carlsmed Company Profile

Carlsmed, Inc is a medical technology company focused on improving outcomes for patients undergoing complex spinal surgery. The company develops personalized implants and surgical solutions designed to help spine surgeons address the anatomical needs of individual patients, particularly those with adult spinal deformity and other challenging spinal conditions.

Its principal product platform, aprevo, uses patient-specific planning and implant design to support spinal reconstruction procedures.