ClearPoint Neuro (NASDAQ:CLPT) Given New $18.00 Price Target at B. Riley Financial

ClearPoint Neuro (NASDAQ:CLPT) had its target price decreased by research analysts at B. Riley Financial from $28.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s price objective would suggest a potential upside of 100.67% from the stock’s previous close.

CLPT has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Wednesday, January 21st. Wall Street Zen lowered ClearPoint Neuro from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.50.

ClearPoint Neuro Price Performance

CLPT traded up $0.03 during trading on Thursday, reaching $8.97. 781,376 shares of the company traded hands, compared to its average volume of 803,907. The company has a debt-to-equity ratio of 1.84, a quick ratio of 5.56 and a current ratio of 6.37. ClearPoint Neuro has a 12-month low of $8.63 and a 12-month high of $30.10. The firm has a fifty day simple moving average of $13.82 and a 200 day simple moving average of $15.61. The company has a market cap of $254.93 million, a P/E ratio of -10.68 and a beta of 1.02.

Insider Activity at ClearPoint Neuro

In other news, CEO Joseph Burnett sold 20,000 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $16.12, for a total value of $322,400.00. Following the sale, the chief executive officer directly owned 11,565 shares in the company, valued at $186,427.80. The trade was a 63.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.97% of the stock is owned by insiders.

Hedge Funds Weigh In On ClearPoint Neuro

Hedge funds have recently added to or reduced their stakes in the company. MGO One Seven LLC raised its position in ClearPoint Neuro by 6.0% in the 3rd quarter. MGO One Seven LLC now owns 19,026 shares of the company’s stock worth $415,000 after purchasing an additional 1,077 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of ClearPoint Neuro by 1.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 65,557 shares of the company’s stock valued at $897,000 after buying an additional 1,109 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ClearPoint Neuro by 4.7% during the fourth 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. Financial Management Professionals Inc. purchased a new stake in shares of ClearPoint Neuro in the third quarter worth approximately $28,000. Finally, Pekin Hardy Strauss Inc. lifted its stake in shares of ClearPoint Neuro by 3.6% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 50,575 shares of the company’s stock worth $604,000 after acquiring an additional 1,750 shares during the last quarter. 30.08% of the stock is currently owned by institutional investors.

ClearPoint Neuro Company Profile

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.