Neuronetics, Inc. (NASDAQ:STIM) Given Consensus Rating of “Moderate Buy” by Analysts

Neuronetics, Inc. (NASDAQ:STIM) has earned an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $4.50.

Several research firms have weighed in on STIM. BTIG Research reiterated a “buy” rating and set a $6.00 price target on shares of Neuronetics in a research note on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, June 18th. Citigroup reaffirmed a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. B Riley began coverage on Neuronetics in a research report on Friday. They issued a “buy” rating on the stock. Finally, Wall Street Zen upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a report on Sunday, July 12th.

Neuronetics Price Performance

Shares of STIM opened at $3.01 on Friday. The firm has a market capitalization of $229.36 million, a PE ratio of -6.84 and a beta of 1.16. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.88 and a quick ratio of 1.69. Neuronetics has a 1-year low of $0.80 and a 1-year high of $3.57. The company’s fifty day moving average price is $2.40 and its 200-day moving average price is $1.75.

Neuronetics (NASDAQ:STIM) last released its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.07. The firm had revenue of $41.57 million for the quarter, compared to the consensus estimate 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

In other Neuronetics news, major shareholder Jorey Chernett acquired 14,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $3.16 per share, with a total value of $44,240.00. Following the acquisition, the insider directly owned 10,602,988 shares of the company’s stock, valued at approximately $33,505,442.08. The trade was a 0.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Neuronetics

Several institutional investors have recently made changes to their positions in STIM. National Bank of Canada FI raised its holdings in Neuronetics by 27.5% in the 3rd quarter. National Bank of Canada FI now owns 31,880 shares of the company’s stock worth $87,000 after purchasing an additional 6,880 shares during the period. Royal Bank of Canada raised its stake in Neuronetics by 17.7% in the 4th quarter. Royal Bank of Canada now owns 47,233 shares of the company’s stock valued at $65,000 after purchasing an additional 7,099 shares during the last quarter. David J Yvars Group raised its stake in Neuronetics by 35.7% in the 2nd quarter. David J Yvars Group now owns 27,550 shares of the company’s stock valued at $36,000 after purchasing an additional 7,250 shares during the last quarter. Barclays PLC lifted its holdings in Neuronetics by 19.2% in the 4th quarter. Barclays PLC now owns 61,606 shares of the company’s stock valued at $85,000 after purchasing an additional 9,941 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Neuronetics by 20.0% during the 3rd quarter. Squarepoint Ops LLC now owns 62,458 shares of the company’s stock worth $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.