Neuronetics, Inc. (NASDAQ:STIM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Neuronetics, Inc. (NASDAQ:STIM) have received a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $4.50.

STIM has been the subject of several research reports. B Riley initiated coverage on Neuronetics in a report on Friday. They issued a “buy” rating for the company. BTIG Research restated a “buy” rating and set a $6.00 price target on shares of Neuronetics in a research note on Wednesday. Citigroup restated a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. Wall Street Zen raised shares of Neuronetics from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, June 18th.

Neuronetics Stock Performance

Neuronetics stock opened at $3.01 on Friday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.69 and a current ratio of 1.88. The company has a market capitalization of $229.36 million, a PE ratio of -6.84 and a beta of 1.16. The company has a 50 day moving average price of $2.40 and a 200-day moving average price of $1.75. Neuronetics has a fifty-two week low of $0.80 and a fifty-two week high of $3.57.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. The company had revenue of $41.57 million for the quarter, compared to analysts’ expectations of $40.17 million. Neuronetics had a negative return on equity of 125.11% and a negative net margin of 19.62%.

Insider Buying and Selling at Neuronetics

In other Neuronetics news, major shareholder Jorey Chernett purchased 14,000 shares of the stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $3.16 per share, with a total value of $44,240.00. Following the transaction, the insider owned 10,602,988 shares of the company’s stock, valued at approximately $33,505,442.08. This trade represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Neuronetics

Several institutional investors have recently bought and sold shares of STIM. National Bank of Canada FI boosted its holdings in Neuronetics by 27.5% in the third quarter. National Bank of Canada FI now owns 31,880 shares of the company’s stock worth $87,000 after acquiring an additional 6,880 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Neuronetics by 17.7% during the fourth quarter. Royal Bank of Canada now owns 47,233 shares of the company’s stock worth $65,000 after acquiring an additional 7,099 shares during the last quarter. David J Yvars Group increased its holdings in shares of Neuronetics by 35.7% during the second quarter. David J Yvars Group now owns 27,550 shares of the company’s stock valued at $36,000 after acquiring an additional 7,250 shares in the last quarter. Barclays PLC increased its holdings in shares of Neuronetics by 19.2% during the fourth quarter. Barclays PLC now owns 61,606 shares of the company’s stock valued at $85,000 after acquiring an additional 9,941 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Neuronetics by 20.0% in the 3rd quarter. Squarepoint Ops LLC now owns 62,458 shares of the company’s stock valued at $171,000 after purchasing an additional 10,423 shares during the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

About Neuronetics

Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.