Neuronetics (NASDAQ:STIM) Stock Price Target Raised at B. Riley Financial

Key Points

• B. Riley Financial raised its price target on Neuronetics from $5 to $6 and reiterated a Buy rating, implying 153.49% upside from the prior close.
• Analyst views are mixed, but MarketBeat’s consensus is Moderate Buy with an average target price of $5; four analysts rate the stock Buy and one rates it Sell.
• Neuronetics beat quarterly estimates, reporting a loss of $0.02 per share versus an expected loss of $0.09, and revenue of $41.96 million versus $40.42 million expected.

Neuronetics (NASDAQ:STIM - Get Free Report) had its target price lifted by investment analysts at B. Riley Financial from $5.00 to $6.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. B. Riley Financial's target price would suggest a potential upside of 153.49% from the stock's previous close.

Several other equities analysts have also issued reports on STIM. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Neuronetics in a research report on Monday, September 14th. 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 report on Sunday, July 12th. Finally, BTIG Research restated a "buy" rating and set a $6.00 price objective on shares of Neuronetics in a research note on Thursday, September 17th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Neuronetics has a consensus rating of "Moderate Buy" and an average target price of $5.00.

Neuronetics Stock Down 2.6%

NASDAQ:STIM traded down $0.06 during trading hours on Friday, reaching $2.37. 1,054,784 shares of the company traded hands, compared to its average volume of 1,989,096. The business's 50-day moving average price is $2.47 and its two-hundred day moving average price is $1.88. The stock has a market capitalization of $180.37 million, a P/E ratio of -7.15 and a beta of 1.36. Neuronetics has a 1 year low of $0.80 and a 1 year 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 - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.07. Neuronetics had a negative return on equity of 103.12% and a negative net margin of 14.45%. The business had revenue of $41.96 million for the quarter, compared to the consensus estimate of $40.42 million. Analysts predict that Neuronetics will post -0.33 earnings per share for the current year.

Insider Transactions at Neuronetics

In other Neuronetics news, major shareholder Jorey Chernett bought 18,000 shares of the business's stock in a transaction on Friday, October 30th. The shares were acquired at an average cost of $2.27 per share, for a total transaction of $40,860.00. Following the purchase, the insider owned 10,620,988 shares in the company, valued at approximately $24,109,642.76. This trade represents a 0.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Madryn Asset Management LP purchased a new position in Neuronetics in the 2nd quarter worth about $24,102,634. FourWorld Capital Management LLC lifted its stake in Neuronetics by 59.9% during 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 during the period. BlackRock Inc. bought a new position in Neuronetics during the 2nd quarter valued at about $776,000. Jefferies Financial Group Inc. purchased a new stake in shares of Neuronetics during the 3rd quarter valued at about $176,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Neuronetics during the 1st quarter valued at about $161,000. Hedge funds and other institutional investors own 53.59% of the company's stock.

Neuronetics Company Profile

Neuronetics, Inc is a medical technology company that develops and commercializes noninvasive treatments for psychiatric and neurological disorders. Its primary product is NeuroStar TMS Therapy, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain associated with mood regulation.

NeuroStar TMS Therapy is cleared by the U.S. Food and Drug Administration for treating major depressive disorder in adults and adolescents, obsessive-compulsive disorder, and depression with anxious distress.

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