Neuronetics Inc (STIM) Receives Consensus Rating of “Strong Buy” from Analysts

Neuronetics Inc (NASDAQ:STIM) has earned an average broker rating score of 1.00 (Strong Buy) from the five analysts that cover the stock, Zacks Investment Research reports. Five research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1 year consensus price target of $36.00 for the company and are expecting that the company will post ($0.40) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Neuronetics an industry rank of 82 out of 255 based on the ratings given to its competitors.

Several brokerages have issued reports on STIM. Canaccord Genuity upped their price target on shares of Neuronetics from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. BTIG Research reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Neuronetics in a research note on Thursday, August 16th. Piper Jaffray Companies started coverage on shares of Neuronetics in a research note on Monday, July 23rd. They issued an “overweight” rating on the stock. JMP Securities started coverage on shares of Neuronetics in a research note on Monday, July 23rd. They issued a “$26.02” rating and a $36.00 price objective on the stock. Finally, William Blair started coverage on shares of Neuronetics in a research note on Monday, July 23rd. They issued an “outperform” rating on the stock.

NASDAQ STIM traded up $1.05 on Monday, hitting $24.37. The company’s stock had a trading volume of 114,033 shares, compared to its average volume of 108,709. The company has a debt-to-equity ratio of -0.13, a quick ratio of 1.59 and a current ratio of 1.75. Neuronetics has a 1-year low of $22.66 and a 1-year high of $39.39.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings results on Tuesday, August 14th. The company reported ($30.60) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by ($29.76). The business had revenue of $13.25 million for the quarter, compared to analysts’ expectations of $12.20 million. On average, equities analysts forecast that Neuronetics will post -2.05 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. United Services Automobile Association bought a new position in Neuronetics during the second quarter worth $266,000. Northern Trust Corp bought a new position in Neuronetics during the second quarter worth about $270,000. Schroder Investment Management Group bought a new position in Neuronetics during the second quarter worth about $4,374,000. Granahan Investment Management Inc. MA bought a new position in Neuronetics during the second quarter worth about $266,000. Finally, Millennium Management LLC bought a new position in Neuronetics during the second quarter worth about $1,197,000. 62.32% of the stock is currently owned by institutional investors and hedge funds.

Neuronetics Company Profile

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric disorders. It offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment for adult patients with major depressive disorder. The company's NeuroStar Advanced Therapy System uses transcranial magnetic stimulation to create a pulsed MRI-strength magnetic field, which induces electrical currents designed to stimulate specific areas of the brain associated with mood.

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Analyst Recommendations for Neuronetics (NASDAQ:STIM)

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