Neuronetics Inc (STIM) Receives $34.50 Average Price Target from Analysts

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Neuronetics Inc (NASDAQ:STIM) has received a consensus rating of “Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have covered the stock in the last year is $34.50.

Several research firms have commented on STIM. Canaccord Genuity lifted their price target on shares of Neuronetics from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Zacks Investment Research raised shares of Neuronetics from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Saturday, November 10th. BTIG Research reissued a “buy” rating and set a $33.00 price target on shares of Neuronetics in a research note on Wednesday, November 7th. Finally, JMP Securities lifted their price target on shares of Neuronetics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 15th.

Shares of STIM opened at $19.67 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 7.63 and a quick ratio of 7.46. Neuronetics has a 1-year low of $15.40 and a 1-year high of $39.39.

Neuronetics (NASDAQ:STIM) last announced its earnings results on Tuesday, November 6th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.11. The company had revenue of $13.74 million during the quarter, compared to analysts’ expectations of $12.68 million. On average, sell-side analysts anticipate that Neuronetics will post -1.88 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Granahan Investment Management Inc. MA purchased a new position in shares of Neuronetics during the second quarter worth approximately $266,000. Wells Fargo & Company MN purchased a new position in shares of Neuronetics during the second quarter worth approximately $7,734,000. Schroder Investment Management Group purchased a new position in shares of Neuronetics during the second quarter worth approximately $4,374,000. FMR LLC purchased a new position in shares of Neuronetics during the second quarter worth approximately $10,169,000. Finally, RTW Investments LP purchased a new position in shares of Neuronetics during the second quarter worth approximately $5,056,000. 69.16% of the stock is currently owned by hedge funds and other institutional investors.

Neuronetics Company Profile

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric disorders. It offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment for adult patients with major depressive disorder. The company's NeuroStar Advanced Therapy System uses transcranial magnetic stimulation to create a pulsed MRI-strength magnetic field, which induces electrical currents designed to stimulate specific areas of the brain associated with mood.

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Analyst Recommendations for Neuronetics (NASDAQ:STIM)

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