Neuronetics (NASDAQ:STIM) Research Coverage Started at B. Riley Financial

B. Riley Financial initiated coverage on shares of Neuronetics (NASDAQ:STIM) in a research report released on Friday, MarketBeat Ratings reports. The firm issued a buy rating and a $5.00 price objective on the stock.

A number of other research firms have also weighed in on STIM. BTIG Research reiterated a “buy” rating and issued a $6.00 price target on shares of Neuronetics in a research report on Wednesday, September 9th. Citigroup reissued a “market outperform” rating on shares of Neuronetics in a research report on Tuesday, July 21st. Wall Street Zen raised shares of Neuronetics from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, June 18th. Finally, B Riley initiated coverage on shares of Neuronetics in a research report on Friday. They set a “buy” rating on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Neuronetics currently has an average rating of “Moderate Buy” and a consensus price target of $4.67.

Neuronetics Price Performance

Neuronetics stock opened at $3.03 on Friday. The firm has a market cap of $230.89 million, a price-to-earnings ratio of -6.89 and a beta of 1.16. The stock has a fifty day simple moving average of $2.43 and a two-hundred day simple moving average of $1.77. 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 released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, beating 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 firm had revenue of $41.57 million during the quarter, compared to analysts’ expectations of $40.17 million.

Insider Activity

In other Neuronetics news, major shareholder Jorey Chernett bought 14,000 shares of Neuronetics stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $3.16 per share, with a total value of $44,240.00. Following the transaction, the insider directly owned 10,602,988 shares of the company’s stock, valued at approximately $33,505,442.08. This represents a 0.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.40% of the company’s stock.

Institutional Trading of Neuronetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fielder Capital Group LLC purchased a new stake in shares of Neuronetics in the 2nd quarter valued at $30,000. State of Wyoming purchased a new position in shares of Neuronetics during the second quarter worth $31,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Neuronetics during the third quarter worth $33,000. David J Yvars Group lifted its position 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 purchasing an additional 7,250 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Neuronetics during the second quarter valued at $37,000. 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.