Neuronetics (NASDAQ:STIM) Now Covered by B. Riley Financial

Key Points

• B. Riley Financial initiated coverage of Neuronetics with a “buy” rating and a $5.00 price target, implying 66.11% upside from the stock’s $3.01 price. Analysts overall rate the shares “Moderate Buy,” with a consensus target of $4.67.
• Neuronetics reported quarterly revenue of $41.57 million and an adjusted loss of $0.05 per share, beating analyst expectations for $40.17 million in revenue and a $0.12-per-share loss.
• A major shareholder purchased 14,000 shares for approximately $44,240, while institutional investors own 53.59% of the company. The stock has traded between $0.80 and $3.57 over the past year.

Equities researchers at B. Riley Financial assumed coverage on shares of Neuronetics (NASDAQ:STIM - Get Free Report) in a report released on Friday, Briefing.com reports. The brokerage set a "buy" rating and a $5.00 price target on the stock. B. Riley Financial's price objective would indicate a potential upside of 66.11% from the stock's current price.

Other equities analysts also recently issued research reports about the company. B Riley initiated coverage on Neuronetics in a research report on Friday. They set a "buy" rating for the company. Wall Street Zen upgraded Neuronetics from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Citigroup reissued a "market outperform" rating on shares of Neuronetics in a research report on Tuesday, July 21st. BTIG Research reaffirmed a "buy" rating and set a $6.00 price target on shares of Neuronetics in a research report on Wednesday. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Neuronetics in a report on Thursday, June 18th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $4.67.

Neuronetics Stock Performance

Shares of STIM opened at $3.01 on Friday. The firm has a market cap of $229.36 million, a P/E ratio of -6.84 and a beta of 1.16. Neuronetics has a twelve month low of $0.80 and a twelve month high of $3.57. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.69 and a current ratio of 1.88. The firm's 50 day moving average price is $2.40 and its two-hundred day moving average price is $1.75.

Neuronetics (NASDAQ:STIM - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. The firm had revenue of $41.57 million during the quarter, compared to analysts' expectations of $40.17 million. Neuronetics had a negative return on equity of 125.11% and a negative net margin of 19.62%.

Insider Buying and Selling at Neuronetics

In other Neuronetics news, major shareholder Jorey Chernett purchased 14,000 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $3.16 per share, for a total transaction of $44,240.00. Following the purchase, the insider owned 10,602,988 shares in the company, valued at approximately $33,505,442.08. The trade was a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 8.40% of the company's stock.

Hedge Funds Weigh In On Neuronetics

Several large investors have recently modified their holdings of STIM. Raymond James Financial Inc. bought a new position in Neuronetics in the 2nd quarter valued at about $37,000. Sherbrooke Park Advisers LLC bought a new position in Neuronetics during the third quarter worth about $33,000. Caption Management LLC acquired a new stake in Neuronetics in the 3rd quarter worth about $38,000. Larson Financial Group LLC boosted its holdings in Neuronetics by 157.2% in the 3rd quarter. Larson Financial Group LLC now owns 17,813 shares of the company's stock valued at $49,000 after purchasing an additional 10,886 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Neuronetics during the 2nd quarter worth approximately $69,000. 53.59% of the stock is owned by institutional investors.

About Neuronetics

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.

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