Neuronetics (NASDAQ:STIM) Stock Gets Price Target Increase from B. Riley Financial

Neuronetics (NASDAQ:STIM) had its price objective boosted by investment analysts at B. Riley Financial from $5.00 to $6.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial‘s price objective suggests a potential upside of 153.49% from the stock’s current price.

STIM has been the subject of a number of other research reports. Citigroup reissued a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a research report on Monday, September 14th. BTIG Research restated a “buy” rating and set a $6.00 price target on shares of Neuronetics in a research note on Thursday, September 17th. Finally, Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Neuronetics Stock Performance

STIM traded down $0.06 during mid-day trading on Friday, reaching $2.37. 1,054,784 shares of the company traded hands, compared to its average volume of 1,989,096. The stock has a market capitalization of $180.37 million, a P/E ratio of -7.15 and a beta of 1.36. The company has a quick ratio of 1.69, a current ratio of 1.88 and a debt-to-equity ratio of 2.84. The company’s fifty day moving average price is $2.47 and its 200-day moving average price is $1.88. Neuronetics has a 52-week low of $0.80 and a 52-week high of $3.44.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.07. The firm had revenue of $41.96 million for the quarter, compared to the consensus estimate of $40.42 million. Neuronetics had a negative return on equity of 103.12% and a negative net margin of 14.45%. On average, sell-side analysts expect that Neuronetics will post -0.33 EPS for the current year.

Insider Activity

In other news, major shareholder Jorey Chernett acquired 18,000 shares of Neuronetics stock in a transaction dated Friday, October 30th. The stock was purchased at an average cost of $2.27 per share, with a total value of $40,860.00. Following the completion of the purchase, the insider directly owned 10,620,988 shares in the company, valued at approximately $24,109,642.76. This trade represents a 0.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of STIM. Fielder Capital Group LLC purchased a new stake in Neuronetics in the 2nd quarter worth $30,000. State of Wyoming bought a new stake in Neuronetics during the second quarter valued at about $31,000. David J Yvars Group raised its holdings in Neuronetics by 35.7% during the second quarter. David J Yvars Group now owns 27,550 shares of the company’s stock valued at $36,000 after acquiring an additional 7,250 shares during the period. IMC Chicago LLC purchased a new position in shares of Neuronetics in the first quarter valued at about $40,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Neuronetics in the second quarter valued at about $50,000. Institutional investors own 53.59% of the company’s stock.

Neuronetics Company Profile

Neuronetics, Inc is a medical technology company that develops and commercializes noninvasive treatments for psychiatric and neurological disorders. Its primary product is NeuroStar TMS Therapy, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain associated with mood regulation.

NeuroStar TMS Therapy is cleared by the U.S. Food and Drug Administration for treating major depressive disorder in adults and adolescents, obsessive-compulsive disorder, and depression with anxious distress.