Biosig Technologies (NASDAQ:STEX) Price Target Cut to $9.00 by Analysts at Needham & Company LLC

Biosig Technologies (NASDAQ:STEX) had its target price decreased by stock analysts at Needham & Company LLC from $12.00 to $9.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other brokerages have also recently weighed in on STEX. Weiss Ratings initiated coverage on Biosig Technologies in a research report on Friday, January 23rd. They set a “sell (d-)” rating on the stock. Wall Street Zen cut Biosig Technologies from a “hold” rating to a “strong sell” rating in a research report on Sunday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Biosig Technologies presently has an average rating of “Hold” and a consensus target price of $9.00.

Biosig Technologies Stock Performance

NASDAQ STEX opened at $1.12 on Thursday. The firm’s 50-day simple moving average is $2.09. Biosig Technologies has a 52 week low of $0.46 and a 52 week high of $14.11. The stock has a market capitalization of $199.94 million, a P/E ratio of -0.12 and a beta of 1.90.

Biosig Technologies (NASDAQ:STEX) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($8.23) earnings per share for the quarter.

Insider Buying and Selling

In related news, Director Morgan Lee Lekstrom acquired 41,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were bought at an average cost of $3.13 per share, for a total transaction of $128,330.00. Following the completion of the transaction, the director owned 48,000 shares in the company, valued at approximately $150,240. This trade represents a 585.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CIO Mitchell Young Williams acquired 51,511 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average price of $3.03 per share, for a total transaction of $156,078.33. Following the completion of the transaction, the executive owned 1,051,511 shares of the company’s stock, valued at $3,186,078.33. The trade was a 5.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 1,267,011 shares of company stock worth $3,825,628. Insiders own 52.73% of the company’s stock.

Biosig Technologies Company Profile

Biosig Technologies (NASDAQ:STEX) is a medical technology company focused on developing advanced signal acquisition and processing solutions for cardiac electrophysiology. The company’s work centers on improving the clarity and interpretability of intracardiac signals captured during electrophysiology procedures, with the goal of helping clinicians identify arrhythmogenic substrates and make more informed procedural decisions.

Its primary offering is a signal-processing platform that combines proprietary hardware and software to amplify, filter and display intracardiac electrical activity with reduced noise and distortion.