Raymond James initiates Ceribell stock with Strong Buy rating, $19 target

Investing.com - Raymond James initiated coverage on Ceribell (NASDAQ:CBLL) with a Strong Buy rating and a $19.00 price target on Monday. According to InvestingPro data, analyst targets for the stock range from $21 to $36, with a strong consensus recommendation of 1.14 (Strong Buy).

The research firm described Ceribell as a "broken-IPO" where consistent execution has disconnected from stock price performance, noting the stock has fallen 51% year-to-date compared to a 2% decline in the broader MedTech sector.

Raymond James highlighted Ceribell’s pioneering position in the rapid EEG market with technology that improves outcomes for both patients and healthcare providers.

The firm pointed to Ceribell’s attractive business model, projecting over 25% revenue growth and mid-80% gross margins with a clear path to profitability.

Raymond James stated the current valuation of approximately 2x EV/2027E sales fails to match Ceribell’s financial profile and gives little credit for current and pipeline opportunities.

In other recent news, Ceribell, Inc. reported a significant 38% year-over-year increase in total revenue for Q2 2025, totaling $21.2 million. Despite the impressive revenue growth, the company recorded a net loss of $13.6 million, or $0.38 per share. Additionally, Ceribell has amended its corporate supply agreement to include a new manufacturing partner in Vietnam. This amendment involves Everwin Precision (Viet Nam) Technology Co., Ltd., which will now deliver Ceribell’s headband products from its Vietnam facility. The agreement, initially signed in January 2022, provides Ceribell with extensive licensing rights necessary for manufacturing and support. Furthermore, Erica Rogers, former CEO of Silk Road Medical, has been appointed to Ceribell’s Board of Directors. Rogers brings over 30 years of experience in the medical device industry, having previously led Silk Road to become a publicly-traded company with substantial revenue growth.

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