Neuronetics (NASDAQ:STIM) Raised to Hold at Wall Street Zen

Neuronetics (NASDAQ:STIM) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

A number of other equities research analysts have also recently issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of Neuronetics from $7.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.00.

Neuronetics Stock Performance

STIM traded up $0.10 on Friday, hitting $1.76. The company had a trading volume of 2,070,367 shares, compared to its average volume of 1,226,128. The stock has a market cap of $122.48 million, a price-to-earnings ratio of -3.26 and a beta of 1.06. 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 company’s fifty day moving average price is $1.40 and its 200 day moving average price is $1.50. Neuronetics has a 1-year low of $0.80 and a 1-year high of $4.85.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.01. Neuronetics had a negative return on equity of 139.83% and a negative net margin of 24.48%.The company had revenue of $34.45 million for the quarter, compared to the consensus estimate of $34.17 million. Equities analysts predict that Neuronetics will post -0.46 earnings per share for the current fiscal year.

Insider Activity at Neuronetics

In other Neuronetics news, major shareholder Jorey Chernett bought 475,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $1.34 per share, for a total transaction of $636,500.00. Following the transaction, the insider owned 10,453,988 shares in the company, valued at approximately $14,008,343.92. The trade was a 4.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders acquired 675,000 shares of company stock valued at $911,500 in the last three months. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Neuronetics

Several hedge funds and other institutional investors have recently modified their holdings of STIM. David J Yvars Group boosted its stake in Neuronetics by 35.7% in the 2nd quarter. David J Yvars Group now owns 27,550 shares of the company’s stock valued at $36,000 after buying an additional 7,250 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of Neuronetics in the first quarter valued at $145,000. Royal Bank of Canada raised its holdings in shares of Neuronetics by 102.9% in the first quarter. Royal Bank of Canada now owns 95,848 shares of the company’s stock valued at $140,000 after buying an additional 48,615 shares during the last quarter. FourWorld Capital Management LLC lifted its position in Neuronetics by 59.9% during the 1st quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock worth $2,160,000 after buying an additional 558,072 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in Neuronetics in the 1st quarter valued at about $110,000. Institutional investors 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.