BTIG Research Reiterates Buy Rating for Neuronetics (NASDAQ:STIM)

Key Points

• BTIG Research reiterated its Buy rating on Neuronetics and maintained a $6.00 price target, implying approximately 103% upside from the stock’s $2.96 trading price.
• Neuronetics shares rose 7.1% to $2.96, while the company’s latest quarterly results exceeded expectations: adjusted EPS was a $0.05 loss versus a projected $0.12 loss, and revenue reached $41.57 million.
• Analyst sentiment is generally positive, with five Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $4.67; institutional investors own 53.59% of the company.

Neuronetics (NASDAQ:STIM - Get Free Report)'s stock had its "buy" rating restated by BTIG Research in a report released on Thursday, Benzinga reports. They presently have a $6.00 target price on the stock. BTIG Research's target price would indicate a potential upside of 103.05% from the stock's current price.

Several other research firms 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. B Riley assumed coverage on Neuronetics in a report on Friday, September 11th. They set a "buy" rating for the company. B. Riley Financial assumed coverage on Neuronetics in a research report on Friday, September 11th. They issued a "buy" rating and a $5.00 price objective for the company. Citigroup reissued a "market outperform" rating on shares of Neuronetics in a research note on Tuesday, July 21st. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Neuronetics in a research report on Monday. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $4.67.

Neuronetics Trading Up 7.1%

Shares of STIM stock traded up $0.20 during trading hours on Thursday, hitting $2.96. 433,928 shares of the company's stock traded hands, compared to its average volume of 2,197,181. The stock has a market cap of $225.17 million, a PE ratio of -6.72 and a beta of 1.16. The stock's 50 day simple moving average is $2.51 and its 200 day simple moving average is $1.80. The company has a quick ratio of 1.69, a current ratio of 1.88 and a debt-to-equity ratio of 2.84. Neuronetics has a 12 month low of $0.80 and a 12 month high of $3.44.

Neuronetics (NASDAQ:STIM - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.07. Neuronetics had a negative return on equity of 125.11% and a negative net margin of 19.62%.The firm had revenue of $41.57 million for the quarter, compared to analyst estimates of $40.17 million. On average, sell-side analysts anticipate that Neuronetics will post -0.33 EPS for the current year.

Insider Activity

In other news, major shareholder Jorey Chernett bought 14,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was acquired 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.40% of the stock is owned by company insiders.

Institutional Trading of Neuronetics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Madryn Asset Management LP bought a new position in shares of Neuronetics in the fourth quarter valued at $25,497,000. UBS Group AG lifted its position in Neuronetics by 20.4% in the 4th quarter. UBS Group AG now owns 2,607,047 shares of the company's stock valued at $3,598,000 after acquiring an additional 442,216 shares in the last quarter. FourWorld Capital Management LLC lifted its position in Neuronetics by 59.9% in the 1st 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 in the last quarter. AdvisorShares Investments LLC boosted its stake in Neuronetics by 127.8% during the 1st 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 last quarter. Finally, BlackRock Inc. bought a new stake in Neuronetics during the 2nd quarter worth approximately $776,000. 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.

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