In a report released today, Josh Jennings from TD Cowen reiterated a Buy rating on Ceribell, Inc., with a price target of $20.00.
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Josh Jennings has given his Buy rating due to a combination of factors that highlight Ceribell, Inc.’s promising market potential and recent advancements. The company’s recent FDA clearance for the Clarity algorithm, specifically designed for neonates, allows for an earlier-than-anticipated market launch of their neonatal application. This development is significant as it expands Ceribell’s total addressable market by an additional $400 million, adding to their existing $2 billion market for adult seizure monitoring.
Furthermore, Ceribell’s system is uniquely positioned as the first AI-powered point-of-care EEG technology capable of detecting seizures across all age groups, from pre-term neonates to adults. The company’s technology addresses a critical unmet need in neonatal care, where timely EEG monitoring is often lacking, leading to undetected seizures and poor outcomes. With the potential for further market expansion into areas such as delirium and stroke, Ceribell is poised for substantial growth, justifying the Buy rating.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CBLL in relation to earlier this year.