Neuronetics, Inc. (NASDAQ:STIM) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Neuronetics, Inc. (NASDAQ:STIM) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $5.00.

STIM has been the topic of a number of research analyst reports. B. Riley Financial upped their target price on Neuronetics from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. BTIG Research reiterated a “buy” rating and set a $6.00 price target on shares of Neuronetics in a research note on Thursday, September 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neuronetics in a report on Monday, September 14th. Finally, Citigroup reiterated a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st.

Insider Buying and Selling

In other Neuronetics news, major shareholder Jorey Chernett bought 18,000 shares of the stock in a transaction dated Friday, October 30th. The stock was purchased at an average cost of $2.27 per share, for a total transaction of $40,860.00. Following the completion of the acquisition, the insider owned 10,620,988 shares of the company’s stock, valued at approximately $24,109,642.76. This trade represents a 0.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.40% of the stock is currently owned by company insiders.

Institutional Trading of Neuronetics

A number of hedge funds have recently made changes to their positions in the stock. Madryn Asset Management LP bought a new stake in Neuronetics during the 2nd quarter worth about $24,102,634. FourWorld Capital Management LLC raised its position in shares of Neuronetics by 59.9% during the 1st quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock valued at $2,160,000 after purchasing an additional 558,072 shares during the period. AdvisorShares Investments LLC boosted its holdings in shares of Neuronetics by 127.8% in the first quarter. AdvisorShares Investments LLC now owns 617,193 shares of the company’s stock valued at $895,000 after purchasing an additional 346,277 shares during the period. BlackRock Inc. acquired a new stake in shares of Neuronetics during the 2nd quarter worth approximately $776,000. Finally, Jefferies Financial Group Inc. purchased a new position in Neuronetics in the third quarter valued at $176,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

Neuronetics Trading Down 11.5%

Neuronetics stock opened at $2.15 on Friday. The stock has a market cap of $163.83 million, a P/E ratio of -6.52 and a beta of 1.36. Neuronetics has a 1 year low of $0.80 and a 1 year high of $3.44. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.88 and a quick ratio of 1.69. The firm’s 50 day moving average price is $2.46 and its 200-day moving average price is $1.88.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. The firm had revenue of $41.96 million during the quarter, compared to the consensus estimate of $40.42 million. Neuronetics had a negative net margin of 19.62% and a negative return on equity of 125.11%. On average, equities analysts predict that Neuronetics will post -0.33 earnings per share for the current fiscal year.

Neuronetics Company Profile

Neuronetics, Inc is a medical technology company that develops and commercializes noninvasive treatments for psychiatric and neurological disorders. Its primary product is NeuroStar TMS Therapy, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain associated with mood regulation.

NeuroStar TMS Therapy is cleared by the U.S. Food and Drug Administration for treating major depressive disorder in adults and adolescents, obsessive-compulsive disorder, and depression with anxious distress.