Neuronetics' (STIM) Buy Rating Reaffirmed at BTIG Research

Neuronetics (NASDAQ:STIM - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at BTIG Research in a research report issued on Thursday, September 17th, Benzinga reports. They currently have a $6.00 price target on the stock. BTIG Research's target price points to a potential upside of 112.77% from the company's current price.

A number of other equities research analysts have also issued reports on STIM. Wall Street Zen upgraded shares of Neuronetics from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings reissued a "sell (e+)" rating on shares of Neuronetics in a research note on Monday, September 14th. Citigroup restated a "market outperform" rating on shares of Neuronetics in a report on Tuesday, July 21st. Finally, B. Riley Financial began coverage on shares of Neuronetics in a research report on Friday, September 11th. They set a "buy" rating for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $4.67.

Neuronetics Stock Performance

STIM traded down $0.06 during midday trading on Thursday, hitting $2.82. 573,968 shares of the company were exchanged, compared to its average volume of 2,162,599. The firm has a market capitalization of $214.88 million, a price-to-earnings ratio of -6.41 and a beta of 1.16. Neuronetics has a 1-year low of $0.80 and a 1-year high of $3.44. The company's 50 day simple moving average is $2.62 and its 200 day simple moving average is $1.85. 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 - Get Free Report) last posted its earnings results 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 the consensus estimate of $40.17 million. As a group, sell-side analysts predict that Neuronetics will post -0.33 earnings per share for the current year.

Insiders Place Their Bets

In other Neuronetics news, major shareholder Jorey Chernett purchased 14,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $3.16 per share, with a total value of $44,240.00. Following the purchase, the insider owned 10,602,988 shares of the company's stock, valued at approximately $33,505,442.08. The trade was a 0.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neuronetics

Several hedge funds and other institutional investors have recently made changes to their positions in STIM. Madryn Asset Management LP acquired a new stake in shares of Neuronetics in the fourth quarter valued at $25,497,000. UBS Group AG grew its holdings in Neuronetics by 20.4% during the 4th quarter. UBS Group AG now owns 2,607,047 shares of the company's stock valued at $3,598,000 after buying an additional 442,216 shares during the last quarter. FourWorld Capital Management LLC boosted its holdings in Neuronetics by 59.9% in the first quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company's stock valued at $2,160,000 after acquiring an additional 558,072 shares during the last quarter. AdvisorShares Investments LLC raised its position in Neuronetics by 127.8% in the first quarter. AdvisorShares Investments LLC now owns 617,193 shares of the company's stock valued at $895,000 after purchasing an additional 346,277 shares during the period. Finally, BlackRock Inc. acquired a new position in Neuronetics in the second quarter worth about $776,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

Neuronetics Company Profile

Neuronetics, Inc is a medical technology company focused on developing and commercializing noninvasive treatments for patients with psychiatric and neurological disorders. The company's flagship product is NeuroStar Advanced Therapy, a transcranial magnetic stimulation (TMS) system designed to deliver personalized, outpatient treatment for major depressive disorder and obsessive-compulsive disorder.

NeuroStar systems use magnetic pulses to stimulate targeted areas of the brain without surgery or anesthesia.