BTIG Research Forecasts Strong Price Appreciation for Carlsmed (NASDAQ:CARL) Stock

Carlsmed (NASDAQ:CARL) had its price target raised by BTIG Research from $23.00 to $24.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 65.86% from the stock’s previous close.

A number of other equities analysts also recently issued reports on CARL. Weiss Ratings upgraded Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Wall Street Zen raised Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Truist Financial raised their target price on Carlsmed from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Needham & Company LLC started coverage on Carlsmed in a report on Wednesday, July 1st. They issued a “buy” rating and a $17.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Carlsmed Price Performance

Carlsmed stock opened at $14.47 on Monday. The firm’s fifty day moving average price is $14.99 and its two-hundred day moving average price is $12.32. Carlsmed has a 1-year low of $8.50 and a 1-year high of $17.23. The company has a quick ratio of 8.66, a current ratio of 8.84 and a debt-to-equity ratio of 0.18.

Carlsmed (NASDAQ:CARL) last posted its earnings results on Wednesday, August 5th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. Carlsmed had a negative net margin of 57.42% and a negative return on equity of 38.06%. The company had revenue of $18.94 million during the quarter. Research analysts expect that Carlsmed will post -1.50 EPS for the current year.

Institutional Trading of Carlsmed

Several institutional investors and hedge funds have recently made changes to their positions in CARL. BlackRock Inc. bought a new stake in Carlsmed in the 2nd quarter worth about $5,528,000. Janus Henderson Group PLC lifted its position in shares of Carlsmed by 7.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company’s stock worth $11,108,000 after buying an additional 86,834 shares in the last quarter. KCM Capital Inc bought a new position in shares of Carlsmed during the 1st quarter worth approximately $1,810,000. Parkman Healthcare Partners LLC bought a new position in shares of Carlsmed during the 2nd quarter worth approximately $6,200,000. Finally, Jupiter Topco LLC purchased a new position in shares of Carlsmed in the 2nd quarter worth approximately $12,992,000.

About Carlsmed

Carlsmed, Inc is a medical technology company focused on personalized solutions for spine surgery. The company develops patient-specific implants and digital planning tools intended to help surgeons address spinal deformity and degenerative conditions with procedures tailored to an individual patient’s anatomy and surgical goals.

Its principal products are offered under the aprevo brand and include personalized interbody fusion implants produced using three-dimensional printing, along with software that supports implant design and preoperative planning.