Neuronetics, Inc. (NASDAQ:STIM) Receives $4.50 Consensus Target Price from Brokerages

Shares of Neuronetics, Inc. (NASDAQ:STIM) have been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $4.6667.

Several research firms recently issued reports on STIM. B. Riley Financial began coverage on Neuronetics in a research note on Friday, September 11th. They set a “buy” rating and a $5.00 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research note on Monday. B Riley initiated coverage on Neuronetics in a report on Friday, September 11th. They issued a “buy” rating on the stock. Citigroup reiterated a “market outperform” rating on shares of Neuronetics in a research report on Tuesday, July 21st. Finally, BTIG Research reissued a “buy” rating and set a $6.00 price objective on shares of Neuronetics in a report on Thursday.

Insider Transactions at Neuronetics

In related news, major shareholder Jorey Chernett purchased 14,000 shares of the business’s stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $3.16 per share, with a total value of $44,240.00. Following the purchase, the insider directly owned 10,602,988 shares in the company, valued at approximately $33,505,442.08. This represents a 0.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neuronetics

A number of institutional investors have recently made changes to their positions in STIM. Madryn Asset Management LP purchased a new position in Neuronetics in the second quarter worth $24,102,634. UBS Group AG raised its position in Neuronetics by 20.4% during the fourth quarter. UBS Group AG now owns 2,607,047 shares of the company’s stock valued at $3,598,000 after purchasing an additional 442,216 shares in the last quarter. FourWorld Capital Management LLC raised its position in Neuronetics by 59.9% during the first quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock valued at $2,160,000 after purchasing an additional 558,072 shares in the last quarter. AdvisorShares Investments LLC lifted its stake in Neuronetics by 127.8% during the first quarter. AdvisorShares Investments LLC now owns 617,193 shares of the company’s stock worth $895,000 after purchasing an additional 346,277 shares during the last quarter. Finally, BlackRock Inc. bought a new stake in Neuronetics during the second quarter worth about $776,000. Institutional investors own 53.59% of the company’s stock.

Neuronetics Price Performance

Shares of NASDAQ:STIM opened at $2.97 on Friday. The company has a 50 day moving average of $2.53 and a 200 day moving average of $1.81. The stock has a market cap of $226.31 million, a P/E ratio of -6.75 and a beta of 1.16. Neuronetics has a 12 month low of $0.80 and a 12 month high of $3.44. The company has a current ratio of 1.88, a quick ratio of 1.69 and a debt-to-equity ratio of 2.84.

Neuronetics (NASDAQ:STIM) last posted its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. Neuronetics had a negative net margin of 19.62% and a negative return on equity of 125.11%. The business had revenue of $41.57 million for the quarter, compared to analysts’ expectations of $40.17 million. As a group, sell-side analysts forecast that Neuronetics will post -0.33 EPS for the current fiscal year.

About Neuronetics

Neuronetics, Inc is a medical technology company focused on developing and commercializing noninvasive treatments for patients with psychiatric and neurological disorders. The company’s flagship product is NeuroStar Advanced Therapy, a transcranial magnetic stimulation (TMS) system designed to deliver personalized, outpatient treatment for major depressive disorder and obsessive-compulsive disorder.

NeuroStar systems use magnetic pulses to stimulate targeted areas of the brain without surgery or anesthesia.