ClearPoint Neuro (NASDAQ:CLPT) Price Target Raised to $20.00

ClearPoint Neuro (NASDAQ:CLPT) had its target price upped by B. Riley Financial from $18.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.50.

ClearPoint Neuro Stock Performance

Shares of ClearPoint Neuro stock opened at $9.03 on Wednesday. The stock has a market capitalization of $267.83 million, a price-to-earnings ratio of -9.92 and a beta of 1.02. The company has a debt-to-equity ratio of 1.75, a current ratio of 5.91 and a quick ratio of 5.56. The business has a 50-day moving average of $12.89 and a 200 day moving average of $15.57. ClearPoint Neuro has a 12 month low of $8.63 and a 12 month high of $30.10.

ClearPoint Neuro (NASDAQ:CLPT) last issued its quarterly earnings results on Tuesday, March 17th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.05). ClearPoint Neuro had a negative return on equity of 122.17% and a negative net margin of 69.08%.The business had revenue of $10.41 million for the quarter, compared to analyst estimates of $10.40 million. As a group, sell-side analysts forecast that ClearPoint Neuro will post -0.66 earnings per share for the current year.

Insider Buying and Selling at ClearPoint Neuro

In related news, CEO Joseph Burnett sold 2,943 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $15.57, for a total transaction of $45,822.51. Following the transaction, the chief executive officer owned 214,116 shares of the company’s stock, valued at $3,333,786.12. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 6.97% of the company’s stock.

Institutional Trading of ClearPoint Neuro

A number of hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC purchased a new position in shares of ClearPoint Neuro in the 4th quarter valued at approximately $235,000. XTX Topco Ltd purchased a new stake in shares of ClearPoint Neuro during the fourth quarter worth approximately $300,000. Millennium Management LLC lifted its holdings in shares of ClearPoint Neuro by 174.4% during the fourth quarter. Millennium Management LLC now owns 515,375 shares of the company’s stock worth $7,050,000 after purchasing an additional 327,574 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of ClearPoint Neuro during the fourth quarter worth $2,972,000. Finally, Price T Rowe Associates Inc. MD grew its position in ClearPoint Neuro by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,791 shares of the company’s stock valued at $367,000 after buying an additional 1,204 shares during the last quarter. 30.08% of the stock is owned by institutional investors and hedge funds.

About ClearPoint Neuro

ClearPoint Neuro, Inc is a medical technology company specializing in the development and commercialization of an MRI-guided therapy platform for minimally invasive neurosurgical procedures. Headquartered in Cambridge, Massachusetts, the company’s flagship ClearPoint® SmartFrame™ system enables surgeons to perform accurate and efficient intracranial interventions by providing real-time magnetic resonance imaging feedback. This technology is designed to improve patient safety and outcomes in treatments ranging from deep brain stimulation electrode placement to laser ablation of epileptic foci and brain tumors.

The ClearPoint System integrates hardware, software and imaging capabilities to guide instruments through the brain with submillimeter precision.