Piper Sandler Starts Carlsmed Inc (CARL) at Overweight

Piper Sandler analyst Matt O'Brien initiates coverage on Carlsmed Inc (: CARL) with a Overweight rating and a price target of $18.00.

The analyst comments: "CARL designs 3D-printed spinal implants that are custom fit to each patient's unique anatomy and is currently the only one of its kind on the market. The company competes in the domestic lumbar implant market ($14B US TAM) and soon plans to break entry into the cervical market ($6B US TAM) in 2026. What sets CARL apart in this market is its clinical data -- which demonstrates significantly better patient outcomes compared to incumbent implants (revision rates ~6x lower than traditional spacers) -- and favorable reimbursement profile, which clearly resonates with surgeons and hospitals alike. We believe the extra capital from the IPO will help CARL with its sales force expansion efforts, compelling further surgeon adoption and market penetration, and driving revenues higher over the next several years which should translate to positive price performance."

For an analyst ratings summary and ratings history on Carlsmed Inc click here. For more ratings news on Carlsmed Inc click here.

Shares of Carlsmed Inc closed at $ yesterday.

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