Biosig Technologies (NASDAQ:STEX) Price Target Cut to $9.00 by Analysts at Needham & Company LLC

Key Points

• Needham cut its price target to $9.00 (from $12.00) but kept a "buy" rating; consensus coverage is mixed (one Buy, one Sell) with MarketBeat's average rating at "Hold" and an average price target of $9.00.
• Biosig shares trade very low versus prior highs — opened at $1.12 with a market cap of about $200M, a 52‑week range of $0.46–$14.11, and recently reported a steep quarterly loss of ($8.23) EPS.
• Insiders have been buying: major shareholder Frank Giustra and Chairman Morgan Lekstrom purchased stock recently, insiders now own 52.73% and bought roughly 1,267,011 shares (~$3.8M) over the last three months.

Biosig Technologies (NASDAQ:STEX - Get Free Report) had its price objective dropped by Needham & Company LLC from $12.00 to $9.00 in a report released on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock.

STEX has been the topic of a number of other reports. Wall Street Zen downgraded shares of Biosig Technologies from a "hold" rating to a "strong sell" rating in a report on Sunday. Weiss Ratings began coverage on shares of Biosig Technologies in a report on Friday, January 23rd. They issued a "sell (d-)" rating on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Biosig Technologies presently has an average rating of "Hold" and an average price target of $9.00.

Biosig Technologies Stock Up 0.9%

STEX opened at $1.12 on Thursday. The stock has a market cap of $199.94 million, a P/E ratio of -0.12 and a beta of 1.90. The business's fifty day moving average price is $2.09. Biosig Technologies has a 1 year low of $0.46 and a 1 year high of $14.11.

Biosig Technologies (NASDAQ:STEX - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($8.23) earnings per share (EPS) for the quarter.

Insider Buying and Selling at Biosig Technologies

In other Biosig Technologies news, major shareholder Frank Giustra acquired 100,000 shares of the company's stock in a transaction on Wednesday, February 4th. The shares were acquired at an average cost of $3.17 per share, with a total value of $317,000.00. Following the completion of the acquisition, the insider directly owned 1,278,205 shares in the company, valued at $4,051,909.85. This trade represents a 8.49% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Morgan Lee Lekstrom acquired 20,000 shares of the company's stock in a transaction on Wednesday, February 18th. The shares were acquired at an average cost of $2.50 per share, for a total transaction of $50,000.00. Following the completion of the acquisition, the chairman owned 122,500 shares of the company's stock, valued at approximately $306,250. The trade was a 19.51% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 1,267,011 shares of company stock valued at $3,825,628 over the last three months. 52.73% of the stock is currently owned by insiders.

Biosig Technologies Company Profile

Biosig Technologies NASDAQ: STEX is a medical technology company focused on developing advanced signal acquisition and processing solutions for cardiac electrophysiology. The company’s work centers on improving the clarity and interpretability of intracardiac signals captured during electrophysiology procedures, with the goal of helping clinicians identify arrhythmogenic substrates and make more informed procedural decisions.

Its primary offering is a signal-processing platform that combines proprietary hardware and software to amplify, filter and display intracardiac electrical activity with reduced noise and distortion.

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