ClearPoint Neuro (NASDAQ:CLPT) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of ClearPoint Neuro (NASDAQ:CLPT) from a strong sell rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently issued reports on CLPT. Weiss Ratings reissued a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Thursday, October 15th. Lake Street Capital set a $25.00 target price on shares of ClearPoint Neuro in a research report on Tuesday, August 4th. Finally, Stifel Nicolaus lowered their target price on shares of ClearPoint Neuro from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $24.33.

ClearPoint Neuro Stock Down 0.2%

CLPT stock opened at $10.67 on Friday. ClearPoint Neuro has a fifty-two week low of $8.27 and a fifty-two week high of $24.75. The company has a debt-to-equity ratio of 1.86, a current ratio of 6.76 and a quick ratio of 3.89. The stock has a market capitalization of $341.97 million, a price-to-earnings ratio of -8.82 and a beta of 1.29. The business’s fifty day moving average price is $12.51 and its two-hundred day moving average price is $13.00.

ClearPoint Neuro (NASDAQ:CLPT) last announced its earnings results on Wednesday, October 28th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.08. ClearPoint Neuro had a negative net margin of 79.43% and a negative return on equity of 170.24%. The company had revenue of $12.07 million during the quarter, compared to analysts’ expectations of $12.30 million. On average, equities analysts anticipate that ClearPoint Neuro will post -1.17 earnings per share for the current year.

Institutional Trading of ClearPoint Neuro

A number of institutional investors have recently modified their holdings of CLPT. BlackRock Inc. acquired a new position in ClearPoint Neuro in the second quarter valued at about $42,456,000. Compass Financial Management LLC bought a new stake in ClearPoint Neuro during the second quarter worth about $5,275,000. Bank of New York Mellon Corp acquired a new stake in ClearPoint Neuro during the second quarter worth about $2,708,000. FirstWave Capital Management LLC grew its stake in ClearPoint Neuro by 20.6% during the second quarter. FirstWave Capital Management LLC now owns 115,600 shares of the company’s stock worth $2,062,000 after buying an additional 19,760 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in ClearPoint Neuro during the second quarter worth about $2,048,000. 30.08% of the stock is currently owned by institutional investors.

About ClearPoint Neuro

ClearPoint Neuro, Inc is a medical technology company that develops and commercializes platforms for minimally invasive procedures involving the brain. Its technology is designed to help physicians plan, navigate and deliver treatments with real-time magnetic resonance imaging (MRI) guidance, supporting more precise access to targeted areas of the brain.

The company’s principal product is the ClearPoint Neuro Navigation System, which uses specialized software, instruments and accessories to guide neurosurgical procedures inside an MRI scanner.