Neuronetics (NASDAQ:STIM) Price Target Raised to $6.00

Neuronetics (NASDAQ:STIM) had its price objective increased by BTIG Research from $5.00 to $6.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently issued reports on STIM. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, June 18th. Citigroup reiterated a “market outperform” rating on shares of Neuronetics in a research report on Tuesday, July 21st. Finally, Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Neuronetics has an average rating of “Moderate Buy” and a consensus target price of $4.50.

Neuronetics Stock Down 5.6%

Neuronetics stock opened at $3.03 on Tuesday. The company’s 50-day moving average price is $1.72 and its two-hundred day moving average price is $1.57. The company has a quick ratio of 1.50, a current ratio of 1.67 and a debt-to-equity ratio of 3.59. The stock has a market cap of $230.89 million, a P/E ratio of -6.89 and a beta of 1.03. Neuronetics has a twelve month low of $0.80 and a twelve month high of $3.88.

Neuronetics (NASDAQ:STIM) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. Neuronetics had a negative return on equity of 121.03% and a negative net margin of 19.62%.The company had revenue of $41.57 million during the quarter, compared to analysts’ expectations of $40.17 million. As a group, analysts expect that Neuronetics will post -0.46 EPS for the current year.

Insider Activity

In other Neuronetics news, major shareholder Jorey Chernett bought 100,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were bought at an average cost of $1.17 per share, with a total value of $117,000.00. Following the completion of the acquisition, the insider owned 10,553,988 shares of the company’s stock, valued at $12,348,165.96. This trade represents a 0.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 8.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neuronetics

Large investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI increased its stake in Neuronetics by 27.5% during the 3rd quarter. National Bank of Canada FI now owns 31,880 shares of the company’s stock worth $87,000 after acquiring an additional 6,880 shares during the period. Royal Bank of Canada lifted its position in shares of Neuronetics by 17.7% during the 4th quarter. Royal Bank of Canada now owns 47,233 shares of the company’s stock valued at $65,000 after acquiring an additional 7,099 shares during the period. David J Yvars Group lifted its position in shares of Neuronetics by 35.7% during the 2nd 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. Barclays PLC grew its holdings in shares of Neuronetics by 19.2% during the 4th quarter. Barclays PLC now owns 61,606 shares of the company’s stock worth $85,000 after purchasing an additional 9,941 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of Neuronetics by 20.0% during the 3rd quarter. Squarepoint Ops LLC now owns 62,458 shares of the company’s stock worth $171,000 after purchasing an additional 10,423 shares in the last quarter. Institutional investors and hedge funds own 53.59% of the company’s stock.

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.