Zacks: Analysts Set $50.00 Price Target for Neurometrix Inc (NASDAQ:NURO)

Shares of Neurometrix Inc (NASDAQ:NURO) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports.

Brokerages have set a 1-year consensus target price of $50.00 for the company and are expecting that the company will post ($1.80) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Neurometrix an industry rank of 108 out of 255 based on the ratings given to its competitors.

NURO has been the subject of a number of recent research reports. ValuEngine downgraded Neurometrix from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Zacks Investment Research downgraded Neurometrix from a “buy” rating to a “hold” rating in a research note on Thursday, December 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Neurometrix in a research note on Friday, October 18th.

A hedge fund recently raised its stake in Neurometrix stock. Sabby Management LLC lifted its stake in Neurometrix Inc (NASDAQ:NURO) by 15.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 934,212 shares of the medical device company’s stock after acquiring an additional 124,730 shares during the period. Sabby Management LLC owned 95.33% of Neurometrix worth $299,000 at the end of the most recent reporting period.

Shares of NURO traded up $0.36 during midday trading on Friday, reaching $4.75. 291,865 shares of the stock were exchanged, compared to its average volume of 225,304. Neurometrix has a 12-month low of $2.52 and a 12-month high of $12.00. The firm has a 50 day simple moving average of $4.31 and a 200-day simple moving average of $1.67. The company has a market cap of $4.30 million, a price-to-earnings ratio of -0.85 and a beta of 0.81.

About Neurometrix

NeuroMetrix, Inc, a healthcare company, develops and markets products for the detection, diagnosis, and monitoring of peripheral nerve and spinal cord disorders. The company develops wearable neuro-stimulation therapeutic devices and point-of-care neuropathy diagnostic tests to address chronic health conditions, including chronic pain, sleep disorders, and diabetes.

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