B. Riley Initiates Coverage on ClearPoint Neuro (NASDAQ:CLPT)

Stock analysts at B. Riley started coverage on shares of ClearPoint Neuro (NASDAQ:CLPT) in a report released on Thursday, StockNewsAPI reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. B. Riley’s price objective would indicate a potential upside of 31.23% from the company’s current price.

ClearPoint Neuro Price Performance

NASDAQ CLPT opened at $7.62 on Thursday. The business’s fifty day moving average price is $6.05 and its 200-day moving average price is $6.42. The stock has a market capitalization of $208.94 million, a price-to-earnings ratio of -9.07 and a beta of 1.07. ClearPoint Neuro has a 1-year low of $4.05 and a 1-year high of $7.97.

ClearPoint Neuro (NASDAQ:CLPT) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.03. The firm had revenue of $7.64 million during the quarter, compared to analyst estimates of $7.04 million. ClearPoint Neuro had a negative return on equity of 76.92% and a negative net margin of 78.84%. Equities research analysts anticipate that ClearPoint Neuro will post -0.63 EPS for the current year.

Institutional Investors Weigh In On ClearPoint Neuro

Several hedge funds and other institutional investors have recently modified their holdings of CLPT. Cahill Wealth Management LLC increased its stake in ClearPoint Neuro by 23.5% in the 4th quarter. Cahill Wealth Management LLC now owns 232,263 shares of the company’s stock worth $1,577,000 after buying an additional 44,179 shares in the last quarter. Lane Generational LLC increased its stake in ClearPoint Neuro by 16.4% in the 4th quarter. Lane Generational LLC now owns 174,291 shares of the company’s stock worth $1,183,000 after buying an additional 24,512 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in ClearPoint Neuro by 7.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,867 shares of the company’s stock worth $170,000 after buying an additional 1,813 shares in the last quarter. Russell Investments Group Ltd. increased its stake in ClearPoint Neuro by 23,048.0% in the 1st quarter. Russell Investments Group Ltd. now owns 46,296 shares of the company’s stock worth $315,000 after buying an additional 46,096 shares in the last quarter. Finally, AWM Investment Company Inc. purchased a new stake in ClearPoint Neuro in the 1st quarter worth $894,000. 30.08% of the stock is currently owned by hedge funds and other institutional investors.

About ClearPoint Neuro

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.