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

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

Several other brokerages have also weighed in on STIM. Citigroup reissued a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, June 18th. Finally, Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.67.

Neuronetics Stock Performance

NASDAQ:STIM opened at $3.03 on Wednesday. The firm’s 50-day moving average is $2.43 and its 200-day moving average is $1.76. Neuronetics has a 52-week low of $0.80 and a 52-week high of $3.44. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.69 and a current ratio of 1.88. The company has a market cap of $230.89 million, a price-to-earnings ratio of -6.89 and a beta of 1.16.

Neuronetics (NASDAQ:STIM) last released 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. Neuronetics had a negative return on equity of 125.11% and a negative net margin of 19.62%.The business had revenue of $41.57 million for the quarter, compared to the consensus estimate of $40.17 million.

Insider Activity at Neuronetics

In other news, major shareholder Jorey Chernett bought 14,000 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $3.16 per share, with a total value of $44,240.00. Following the acquisition, the insider owned 10,602,988 shares in the company, valued at $33,505,442.08. This trade represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Neuronetics

Several institutional investors have recently added to or reduced their stakes in the company. Madryn Asset Management LP acquired a new stake in shares of Neuronetics during the second quarter worth approximately $24,102,634. UBS Group AG raised its stake in shares of Neuronetics by 20.4% in the fourth quarter. UBS Group AG now owns 2,607,047 shares of the company’s stock valued at $3,598,000 after acquiring an additional 442,216 shares during the last quarter. BlackRock Inc. bought a new position in shares of Neuronetics in the second quarter valued at approximately $776,000. FourWorld Capital Management LLC boosted its holdings in shares of Neuronetics by 59.9% in the 1st quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock worth $2,160,000 after acquiring an additional 558,072 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Neuronetics in the 3rd quarter worth approximately $33,000. 53.59% of the stock is owned by 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.