Ceribell initiated with a Buy at Canaccord

Canaccord initiated coverage of Ceribell (CBLL) with a Buy rating and $30 price target The firm views Ceribell as the pioneer and leader in rapid EEG. It estimates the company is initially tackling a $2B market opportunity with a potential annual market of 2.8M tests at 6,200 hospitals. The company is still in its early phase of growth in a single opportunity today’s status epilepticus, but Ceribell also has the potential to harness the power of EEG to detect beyond seizures, further expanding the market opportunity, the analyst tells investors in a research note.