Zacks Investment Research upgraded shares of NeuroMetrix Inc. (NASDAQ:NURO) from a sell rating to a hold rating in a report published on Tuesday.

According to Zacks, “Neurometrix is a medical device company establishing a new standard of care through the design, development and sale of proprietary products used to diagnose neuropathies. Neuropathies are diseases of the peripheral nerves and parts of the spine that frequently are caused by or associated with diabetes, low back pain and carpal tunnel syndrome, as well as other clinical disorders. “

Separately, Rodman & Renshaw began coverage on shares of NeuroMetrix in a report on Tuesday, June 28th. They issued a buy rating and a $4.50 price target on the stock.

Shares of NeuroMetrix (NASDAQ:NURO) opened at 1.54 on Tuesday. NeuroMetrix has a 52-week low of $1.35 and a 52-week high of $3.80. The company’s market capitalization is $7.88 million. The firm’s 50 day moving average is $1.49 and its 200-day moving average is $1.68.

NeuroMetrix (NASDAQ:NURO) last released its earnings results on Thursday, July 21st. The medical device company reported ($5.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.93) by $4.44. The company had revenue of $2.65 million for the quarter, compared to analyst estimates of $1.22 million. NeuroMetrix had a negative net margin of 145.19% and a negative return on equity of 136.94%. Equities research analysts anticipate that NeuroMetrix will post ($6.65) earnings per share for the current fiscal year.

An institutional investor recently raised its position in NeuroMetrix stock. Sabby Management LLC raised its stake in shares of NeuroMetrix Inc. (NASDAQ:NURO) by 104.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,236 shares of the medical device company’s stock after buying an additional 87,973 shares during the period. Sabby Management LLC owned about 3.37% of NeuroMetrix worth $286,000 at the end of the most recent quarter. 8.62% of the stock is currently owned by hedge funds and other institutional investors.

NeuroMetrix Company Profile

NeuroMetrix, Inc (NeuroMetrix) is a health-care company that develops wearable medical technology and point-of-care tests that help patients and physicians manage chronic pain, nerve diseases and sleep disorders. The Company operates through the sale of medical equipment and consumables segment. Its products are sold in the United States and selected overseas markets.

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