Neuronetics (NASDAQ:STIM) Earns Buy Rating from Analysts at BTIG Research

Stock analysts at BTIG Research initiated coverage on shares of Neuronetics (NASDAQ:STIM) in a research report issued on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $5.00 price target on the stock. BTIG Research’s price target suggests a potential upside of 208.64% from the company’s current price.

A number of other equities analysts have also weighed in on STIM. Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Neuronetics has an average rating of “Hold” and a consensus price target of $4.00.

Neuronetics Price Performance

Shares of STIM opened at $1.62 on Monday. Neuronetics has a 1 year low of $0.80 and a 1 year high of $4.85. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.67 and a quick ratio of 1.50. The company has a market capitalization of $112.74 million, a price-to-earnings ratio of -3.00 and a beta of 1.06. The business has a 50-day moving average of $1.39 and a 200-day moving average of $1.52.

Neuronetics (NASDAQ:STIM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. Neuronetics had a negative return on equity of 139.83% and a negative net margin of 24.48%.The company had revenue of $34.45 million for the quarter, compared to analyst estimates of $34.17 million. As a group, equities research analysts anticipate that Neuronetics will post -0.46 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Jorey Chernett acquired 100,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $1.17 per share, with a total value of $117,000.00. Following the completion of the purchase, the insider directly owned 10,553,988 shares in the company, valued at $12,348,165.96. This trade represents a 0.96% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. UBS Group AG boosted its holdings in Neuronetics by 20.4% during the fourth quarter. UBS Group AG now owns 2,607,047 shares of the company’s stock worth $3,598,000 after purchasing an additional 442,216 shares during the last quarter. Madryn Asset Management LP bought a new position in shares of Neuronetics during the 4th quarter worth approximately $25,497,000. Presidio Capital Management LLC lifted its position in shares of Neuronetics by 217.0% during the 4th quarter. Presidio Capital Management LLC now owns 37,436 shares of the company’s stock worth $52,000 after buying an additional 25,625 shares in the last quarter. David J Yvars Group boosted its stake in shares of Neuronetics by 22.1% in the 4th quarter. David J Yvars Group now owns 31,230 shares of the company’s stock worth $43,000 after buying an additional 5,650 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Neuronetics in the 1st quarter worth approximately $145,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Neuronetics Company Profile

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.