Neuronetics’ (STIM) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Neuronetics (NASDAQ:STIM) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $6.00 target price on the stock.

A number of other brokerages have also recently issued reports on STIM. B. Riley Financial initiated coverage on shares of Neuronetics in a report on Friday, September 11th. They set a “buy” rating and a $5.00 target price on the stock. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. B Riley began coverage on Neuronetics in a research note on Friday, September 11th. They set a “buy” rating on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a report on Monday, September 14th. Finally, Citigroup restated a “market outperform” rating on shares of Neuronetics in a research note on Tuesday, July 21st. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Neuronetics has a consensus rating of “Moderate Buy” and an average price target of $4.67.

Neuronetics Trading Down 2.4%

Shares of STIM opened at $2.90 on Thursday. Neuronetics has a fifty-two week low of $0.80 and a fifty-two week high of $3.44. The business has a 50-day moving average of $2.55 and a 200 day moving average of $1.82. The firm has a market cap of $220.98 million, a P/E ratio of -6.59 and a beta of 1.16. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.69 and a current ratio of 1.88.

Neuronetics (NASDAQ:STIM) last issued its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $41.57 million during the quarter, compared to analyst estimates of $40.17 million. Neuronetics had a negative net margin of 19.62% and a negative return on equity of 125.11%. As a group, research analysts forecast that Neuronetics will post -0.33 EPS for the current year.

Insider Buying and Selling at Neuronetics

In other Neuronetics news, major shareholder Jorey Chernett acquired 14,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $3.16 per share, for a total transaction of $44,240.00. Following the completion of the transaction, the insider owned 10,602,988 shares of the company’s stock, valued at approximately $33,505,442.08. This represents a 0.13% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Neuronetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fielder Capital Group LLC purchased a new stake in shares of Neuronetics in the 2nd quarter valued at about $30,000. State of Wyoming purchased a new position in shares of Neuronetics during the second quarter worth about $31,000. David J Yvars Group increased its position in shares of Neuronetics by 35.7% in the second quarter. David J Yvars Group now owns 27,550 shares of the company’s stock worth $36,000 after purchasing an additional 7,250 shares during the last quarter. IMC Chicago LLC bought a new position in shares of Neuronetics in the first quarter worth approximately $40,000. Finally, Hsbc Holdings PLC purchased a new stake in Neuronetics in the second quarter valued at approximately $50,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

About Neuronetics

Neuronetics, Inc is a medical technology company focused on developing and commercializing noninvasive treatments for patients with psychiatric and neurological disorders. The company’s flagship product is NeuroStar Advanced Therapy, a transcranial magnetic stimulation (TMS) system designed to deliver personalized, outpatient treatment for major depressive disorder and obsessive-compulsive disorder.

NeuroStar systems use magnetic pulses to stimulate targeted areas of the brain without surgery or anesthesia.