Neuronetics (NASDAQ:STIM – Get Free Report) had its price target raised by equities research analysts at BTIG Research from $5.00 to $6.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 98.35% from the company’s current price.
Several other research firms have also commented on STIM. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a research report on Thursday, June 18th. Wall Street Zen upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Neuronetics in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4.50.
Read Our Latest Analysis on STIM
Neuronetics Stock Up 39.4%
Neuronetics (NASDAQ:STIM – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.07. Neuronetics had a negative net margin of 24.48% and a negative return on equity of 139.83%. The business had revenue of $41.57 million during the quarter, compared to analyst estimates of $40.17 million. As a group, research analysts forecast that Neuronetics will post -0.46 EPS for the current fiscal year.
Insiders Place Their Bets
In other Neuronetics news, major shareholder Jorey Chernett bought 100,000 shares of the stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $1.17 per share, with a total value of $117,000.00. Following the purchase, the insider directly owned 10,553,988 shares in the company, valued at $12,348,165.96. This trade represents a 0.96% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.40% of the company’s stock.
Institutional Investors Weigh In On Neuronetics
Large investors have recently made changes to their positions in the stock. Madryn Asset Management LP purchased a new stake in shares of Neuronetics in the fourth quarter valued at about $25,497,000. UBS Group AG raised its position in Neuronetics by 580.7% in the third quarter. UBS Group AG now owns 2,164,831 shares of the company’s stock valued at $5,910,000 after purchasing an additional 1,846,801 shares during the period. Lane Generational LLC acquired a new position in shares of Neuronetics in the 4th quarter valued at $2,353,000. Goldman Sachs Group Inc. grew its holdings in shares of Neuronetics by 2,993.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 630,393 shares of the company’s stock worth $2,320,000 after purchasing an additional 610,014 shares during the period. Finally, BlackRock Inc. acquired a new stake in shares of Neuronetics during the 2nd quarter worth about $776,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.
Neuronetics Company Profile
Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.
Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.
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