Analyst Josh Jennings of TD Cowen maintained a Buy rating on Ceribell, Inc., retaining the price target of $36.00.
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Josh Jennings has given his Buy rating due to a combination of factors that suggest Ceribell, Inc. is well-positioned for growth. The company is expected to deliver strong second-quarter results, with revenue projections indicating a 34% increase from the previous year. Despite expectations of sequentially flat revenue, historical trends suggest that Ceribell often surpasses these estimates, especially given its performance in the second quarter compared to the first.
Furthermore, the company’s potential to expand its market presence is significant. Ceribell has opportunities to penetrate new accounts and increase utilization within existing ones, with current penetration estimated at only 20-30%. This suggests a substantial growth potential as the company aims to enhance its market share by the end of 2025. These factors contribute to Jennings’s confidence in recommending a Buy rating for Ceribell, Inc.