ClearPoint Neuro (NASDAQ:CLPT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ClearPoint Neuro (NASDAQ:CLPT) from a strong sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other analysts have also issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Thursday, October 15th. Stifel Nicolaus lowered their price target on shares of ClearPoint Neuro from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Lake Street Capital set a $25.00 price objective on shares of ClearPoint Neuro in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $24.33.

ClearPoint Neuro Price Performance

Shares of CLPT opened at $9.95 on Friday. The firm has a market capitalization of $318.94 million, a PE ratio of -8.22 and a beta of 1.29. The stock’s 50 day moving average is $12.40 and its two-hundred day moving average is $12.98. ClearPoint Neuro has a twelve month low of $8.27 and a twelve month high of $19.68. The company has a current ratio of 4.74, a quick ratio of 3.89 and a debt-to-equity ratio of 4.66.

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings results on Wednesday, October 28th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.08. The business had revenue of $12.07 million during the quarter, compared to the consensus estimate of $12.30 million. ClearPoint Neuro had a negative net margin of 79.43% and a negative return on equity of 188.08%. Research analysts anticipate that ClearPoint Neuro will post -1.17 earnings per share for the current year.

Institutional Trading of ClearPoint Neuro

A number of institutional investors have recently added to or reduced their stakes in CLPT. BlackRock Inc. bought a new position in ClearPoint Neuro in the 2nd quarter worth approximately $42,456,000. Compass Financial Management LLC acquired a new position in shares of ClearPoint Neuro in the 2nd quarter worth approximately $5,275,000. Pekin Hardy Strauss Inc. grew its holdings in shares of ClearPoint Neuro by 93.8% during the third quarter. Pekin Hardy Strauss Inc. now owns 277,915 shares of the company’s stock worth $3,393,000 after purchasing an additional 134,540 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in ClearPoint Neuro in the 2nd quarter valued at about $2,708,000. Finally, FirstWave Capital Management LLC raised its position in shares of ClearPoint Neuro by 20.6% during the second quarter. FirstWave Capital Management LLC now owns 115,600 shares of the company’s stock worth $2,062,000 after acquiring an additional 19,760 shares during the last quarter. 30.08% of the stock is currently owned by institutional investors and hedge funds.

About ClearPoint Neuro

ClearPoint Neuro, Inc is a medical technology company that develops and commercializes platforms for minimally invasive procedures involving the brain. Its technology is designed to help physicians plan, navigate and deliver treatments with real-time magnetic resonance imaging (MRI) guidance, supporting more precise access to targeted areas of the brain.

The company’s principal product is the ClearPoint Neuro Navigation System, which uses specialized software, instruments and accessories to guide neurosurgical procedures inside an MRI scanner.