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

Shares of Neuronetics, Inc. (NASDAQ:STIM) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat.com 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 target price among analysts that have updated their coverage on the stock in the last year is $4.67.

A number of brokerages have recently issued reports on STIM. BTIG Research reaffirmed a “buy” rating and set a $6.00 target price on shares of Neuronetics in a research report on Thursday, September 17th. Citigroup reaffirmed a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a research report on Monday, September 14th. B. Riley Financial assumed coverage on Neuronetics in a research note on Friday, September 11th. They issued a “buy” rating on the stock. Finally, Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th.

Neuronetics Price Performance

Shares of NASDAQ STIM opened at $2.13 on Tuesday. Neuronetics has a 1-year low of $0.80 and a 1-year high of $3.44. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.88 and a quick ratio of 1.69. The business’s fifty day moving average price is $2.73 and its two-hundred day moving average price is $1.94. The firm has a market capitalization of $162.31 million, a PE ratio of -4.84 and a beta of 1.19.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The company had revenue of $41.57 million for the quarter, compared to analysts’ expectations of $40.17 million. Neuronetics had a negative return on equity of 125.11% and a negative net margin of 19.62%. On average, research analysts expect that Neuronetics will post -0.33 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Jorey Chernett bought 14,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was bought at an average price of $3.16 per share, with a total value of $44,240.00. Following the purchase, the insider directly owned 10,602,988 shares of the company’s stock, valued at approximately $33,505,442.08. This represents a 0.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Madryn Asset Management LP acquired a new position in Neuronetics in the 2nd quarter valued at $24,102,634. FourWorld Capital Management LLC lifted its position in Neuronetics by 59.9% during the 1st quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock worth $2,160,000 after acquiring an additional 558,072 shares during the last quarter. AdvisorShares Investments LLC boosted its holdings in Neuronetics by 127.8% during the first quarter. AdvisorShares Investments LLC now owns 617,193 shares of the company’s stock valued at $895,000 after acquiring an additional 346,277 shares during the period. BlackRock Inc. acquired a new stake in shares of Neuronetics in the second quarter valued at about $776,000. Finally, Aristides Capital LLC acquired a new stake in shares of Neuronetics in the fourth quarter valued at about $188,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

About Neuronetics

Neuronetics, Inc is a medical technology company focused on developing and commercializing noninvasive treatments for mental health conditions. The company’s primary product is the NeuroStar Advanced Therapy system, which uses transcranial magnetic stimulation (TMS) to deliver targeted magnetic pulses to areas of the brain associated with mood and related symptoms.

NeuroStar TMS Therapy is cleared by the U.S. Food and Drug Administration for the treatment of major depressive disorder in adults and adolescents, obsessive-compulsive disorder in adults, and certain associated indications.