BTIG Research Issues Positive Forecast for Neuronetics (NASDAQ:STIM) Stock Price

Neuronetics (NASDAQ:STIM) had its price target boosted by BTIG Research from $5.00 to $6.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 98.35% from the stock’s previous close.

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

Neuronetics Trading Up 39.4%

Shares of NASDAQ:STIM traded up $0.85 during mid-day trading on Tuesday, reaching $3.02. 24,806,250 shares of the company were exchanged, compared to its average volume of 2,272,403. Neuronetics has a 1 year low of $0.80 and a 1 year high of $4.00. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.67 and a quick ratio of 1.50. The firm’s 50-day simple moving average is $1.61 and its 200 day simple moving average is $1.55. The firm has a market cap of $210.51 million, a price-to-earnings ratio of -5.62 and a beta of 1.03.

Neuronetics (NASDAQ:STIM) last announced its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Neuronetics had a negative return on equity of 139.83% and a negative net margin of 24.48%.The company had revenue of $41.57 million for the quarter, compared to analyst estimates of $40.17 million. Equities research analysts forecast that Neuronetics will post -0.46 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Jorey Chernett purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $1.17 per share, for a total transaction of $117,000.00. Following the acquisition, the insider directly owned 10,553,988 shares in the company, valued at $12,348,165.96. The trade was a 0.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Neuronetics

Several hedge funds and other institutional investors have recently bought and sold shares of STIM. Fielder Capital Group LLC acquired a new position in shares of Neuronetics in the 2nd quarter valued at approximately $30,000. State of Wyoming bought a new stake in shares of Neuronetics in the second quarter worth $31,000. Sherbrooke Park Advisers LLC bought a new position in Neuronetics during the 3rd quarter valued at $33,000. David J Yvars Group boosted its stake in 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 last quarter. Finally, Raymond James Financial Inc. acquired a new position in Neuronetics during the 2nd quarter worth $37,000. 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.