Neuronetics’ (STIM) Buy Rating Reaffirmed at BTIG Research

Neuronetics (NASDAQ:STIM)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $6.00 price target on the stock. BTIG Research’s price objective would indicate a potential upside of 103.05% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a research note on Monday. Citigroup reissued a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. B Riley started coverage on shares of Neuronetics in a report on Friday, September 11th. They set a “buy” rating for the company. Finally, B. Riley Financial assumed coverage on shares of Neuronetics in a research report on Friday, September 11th. They issued a “buy” rating and a $5.00 price objective on the stock. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.67.

Neuronetics Stock Up 7.1%

STIM stock traded up $0.20 during trading on Thursday, reaching $2.96. The stock had a trading volume of 433,928 shares, compared to its average volume of 2,197,181. The company has a quick ratio of 1.69, a current ratio of 1.88 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $225.17 million, a price-to-earnings ratio of -6.72 and a beta of 1.16. Neuronetics has a one year low of $0.80 and a one year high of $3.44. The company’s 50 day moving average is $2.51 and its two-hundred day moving average is $1.80.

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

Insiders Place Their Bets

In other news, major shareholder Jorey Chernett acquired 14,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $3.16 per share, for a total transaction of $44,240.00. Following the purchase, the insider 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Neuronetics

Several hedge funds and other institutional investors have recently modified their holdings of STIM. David J Yvars Group lifted its position in Neuronetics by 35.7% in the second 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. Fielder Capital Group LLC bought a new stake in Neuronetics during the 2nd quarter valued at $30,000. State of Wyoming purchased a new stake in Neuronetics during the 2nd quarter valued at $31,000. IMC Chicago LLC purchased a new stake in Neuronetics during the 1st quarter valued at $40,000. Finally, Hsbc Holdings PLC bought a new stake in Neuronetics in the 2nd quarter worth $50,000. Institutional investors own 53.59% of the company’s stock.

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.