Neuronetics (NASDAQ:STIM) Given Buy Rating at JMP Securities

Neuronetics (NASDAQ:STIM)‘s stock had its “buy” rating restated by stock analysts at JMP Securities in a research note issued to investors on Thursday, PriceTargets.com reports. They presently have a $12.00 target price on the stock, down from their prior target price of $18.00. JMP Securities’ price target suggests a potential upside of 140.48% from the company’s previous close.

STIM has been the subject of several other research reports. William Blair lowered Neuronetics from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Zacks Investment Research raised shares of Neuronetics from a “sell” rating to a “hold” rating in a research report on Thursday, October 7th. BTIG Research cut shares of Neuronetics from a “buy” rating to a “neutral” rating in a report on Wednesday. Canaccord Genuity decreased their target price on shares of Neuronetics from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Piper Sandler dropped their price target on Neuronetics from $21.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 3rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Neuronetics presently has an average rating of “Buy” and an average price target of $15.00.

STIM stock traded up $0.16 during trading on Thursday, reaching $4.99. The company had a trading volume of 30,431 shares, compared to its average volume of 497,783. The company has a debt-to-equity ratio of 0.36, a current ratio of 11.65 and a quick ratio of 11.18. Neuronetics has a 52 week low of $4.66 and a 52 week high of $22.43. The business has a 50 day moving average of $7.13 and a 200 day moving average of $11.36. The company has a market cap of $131.33 million, a P/E ratio of -5.06 and a beta of 2.56.

Neuronetics (NASDAQ:STIM) last posted its earnings results on Tuesday, August 3rd. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). The firm had revenue of $14.20 million for the quarter, compared to analysts’ expectations of $14.70 million. Neuronetics had a negative return on equity of 35.67% and a negative net margin of 41.24%. Research analysts expect that Neuronetics will post -1.13 earnings per share for the current year.

In other Neuronetics news, Director Robert Cascella bought 15,000 shares of Neuronetics stock in a transaction on Monday, August 30th. The stock was acquired at an average price of $6.72 per share, with a total value of $100,800.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Stephen Furlong sold 6,563 shares of the company’s stock in a transaction on Wednesday, July 28th. The shares were sold at an average price of $13.08, for a total value of $85,844.04. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. purchased a new stake in Neuronetics during the 1st quarter valued at $134,000. BlackRock Inc. increased its position in Neuronetics by 61.1% during the first quarter. BlackRock Inc. now owns 427,365 shares of the company’s stock valued at $5,287,000 after acquiring an additional 162,141 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Neuronetics by 172.3% in the first quarter. Russell Investments Group Ltd. now owns 311,442 shares of the company’s stock valued at $3,851,000 after acquiring an additional 197,059 shares during the period. Geode Capital Management LLC boosted its position in Neuronetics by 68.3% in the first quarter. Geode Capital Management LLC now owns 165,170 shares of the company’s stock worth $2,043,000 after purchasing an additional 67,031 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Neuronetics by 51.6% during the 1st quarter. Northern Trust Corp now owns 41,580 shares of the company’s stock valued at $515,000 after purchasing an additional 14,160 shares during the period. Institutional investors own 87.85% of the company’s stock.

About Neuronetics

Neuronetics, Inc commercial stage medical technology company, which engages in the designing, developing and marketing products for the patients suffering from psychiatric disorders. It operates through United States and International geographical segments. The firm offers NeuroStar TMS, a therapy system for the treatment of major depressive disorders in adult patients.

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Analyst Recommendations for Neuronetics (NASDAQ:STIM)

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