ClearPoint Neuro (NASDAQ:CLPT) Given New $20.00 Price Target at B. Riley Financial

ClearPoint Neuro (NASDAQ:CLPT) had its price target hoisted by equities research analysts at B. Riley Financial from $18.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial’s target price would suggest a potential upside of 106.42% from the company’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearPoint Neuro in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ClearPoint Neuro presently has an average rating of “Hold” and an average price target of $14.50.

ClearPoint Neuro Stock Down 13.2%

Shares of NASDAQ:CLPT traded down $1.47 during trading on Wednesday, hitting $9.69. The company’s stock had a trading volume of 969,992 shares, compared to its average volume of 838,789. ClearPoint Neuro has a fifty-two week low of $8.63 and a fifty-two week high of $30.10. The business has a 50 day moving average price of $13.25 and a two-hundred day moving average price of $15.67. The company has a debt-to-equity ratio of 1.84, a quick ratio of 5.56 and a current ratio of 6.37. The company has a market capitalization of $275.39 million, a PE ratio of -11.54 and a beta of 1.02.

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.05). ClearPoint Neuro had a negative net margin of 67.40% and a negative return on equity of 114.28%. The company had revenue of $10.41 million during the quarter, compared to analyst estimates of $10.40 million. As a group, research analysts expect that ClearPoint Neuro will post -0.66 EPS for the current fiscal year.

Insider Activity

In related news, CEO Joseph Burnett sold 2,943 shares of the business’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $15.57, for a total transaction of $45,822.51. Following the completion of the transaction, the chief executive officer owned 214,116 shares in the company, valued at approximately $3,333,786.12. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.11% of the company’s stock.

Institutional Trading of ClearPoint Neuro

A number of hedge funds and other institutional investors have recently bought and sold shares of CLPT. Allworth Financial LP lifted its holdings in ClearPoint Neuro by 3,076.9% during the 2nd quarter. Allworth Financial LP now owns 2,065 shares of the company’s stock worth $25,000 after buying an additional 2,000 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of ClearPoint Neuro in the 4th quarter valued at about $25,000. BNP Paribas Financial Markets raised its position in shares of ClearPoint Neuro by 2,435.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,231 shares of the company’s stock worth $27,000 after acquiring an additional 2,143 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of ClearPoint Neuro during the 3rd quarter worth about $28,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in ClearPoint Neuro during the second quarter worth approximately $32,000. 30.08% of the stock is currently owned by institutional investors and hedge funds.

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.