Neuronetics, Inc. (NASDAQ:STIM) Stock Has Consensus Target Price of $4.67 According to Analysts

Shares of Neuronetics, Inc. (NASDAQ:STIM) have been assigned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One investment 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 issued a report on the stock in the last year is $4.67.

Several research firms have commented on STIM. Citigroup reissued a “market outperform” rating on shares of Neuronetics in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neuronetics in a report on Monday, September 14th. B. Riley Financial started coverage on Neuronetics in a report on Friday, September 11th. They issued a “buy” rating for the company. BTIG Research reaffirmed a “buy” rating and set a $6.00 price target on shares of Neuronetics in a research report on Thursday, September 17th. Finally, Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a report on Sunday, July 12th.

Neuronetics Stock Performance

Shares of STIM opened at $2.25 on Friday. 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 stock has a 50 day moving average price of $2.52 and a two-hundred day moving average price of $1.87. The firm has a market capitalization of $171.45 million, a P/E ratio of -5.11 and a beta of 1.19. Neuronetics has a 52 week low of $0.80 and a 52 week high of $3.44.

Neuronetics (NASDAQ:STIM) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $40.17 million. Equities analysts forecast that Neuronetics will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at Neuronetics

In other Neuronetics news, major shareholder Jorey Chernett acquired 14,000 shares of Neuronetics stock in a transaction on Friday, August 14th. The stock was purchased at an average price of $3.16 per share, for a total transaction of $44,240.00. Following the purchase, the insider directly owned 10,602,988 shares of the company’s stock, valued at $33,505,442.08. This trade represents a 0.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.40% of the stock is owned by company insiders.

Institutional Trading of Neuronetics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Madryn Asset Management LP purchased a new position in shares of Neuronetics during the 2nd quarter valued at $24,102,634. FourWorld Capital Management LLC lifted its stake in Neuronetics by 59.9% during the first quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock worth $2,160,000 after purchasing an additional 558,072 shares during the last quarter. AdvisorShares Investments LLC boosted its holdings in shares of Neuronetics by 127.8% in the 1st quarter. AdvisorShares Investments LLC now owns 617,193 shares of the company’s stock worth $895,000 after purchasing an additional 346,277 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Neuronetics in the 2nd quarter worth about $776,000. Finally, Citizens Financial Group Inc. RI bought a new position in shares of Neuronetics during the 1st quarter valued at about $161,000. 53.59% of the stock is currently owned by institutional investors.

About Neuronetics

Neuronetics, Inc is a medical technology company that develops and commercializes noninvasive treatments for psychiatric and neurological disorders. Its primary product is NeuroStar TMS Therapy, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain associated with mood regulation.

NeuroStar TMS Therapy is cleared by the U.S. Food and Drug Administration for treating major depressive disorder in adults and adolescents, obsessive-compulsive disorder, and depression with anxious distress.