Neuronetics (NASDAQ:STIM) Research Coverage Started at BTIG Research

BTIG Research started coverage on shares of Neuronetics (NASDAQ:STIM) in a report released on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $5.00 target price on the stock.

Several other equities analysts also recently commented on STIM. Wall Street Zen raised shares of Neuronetics from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, June 18th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

Neuronetics Trading Up 2.7%

Neuronetics stock opened at $1.93 on Monday. The company’s fifty day simple moving average is $1.42 and its 200-day simple moving average is $1.53. The company has a quick ratio of 1.50, a current ratio of 1.67 and a debt-to-equity ratio of 3.59. Neuronetics has a 12 month low of $0.80 and a 12 month high of $4.85. The stock has a market cap of $134.31 million, a P/E ratio of -3.57 and a beta of 1.06.

Neuronetics (NASDAQ:STIM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. The firm had revenue of $34.45 million for the quarter, compared to analyst estimates of $34.17 million. Neuronetics had a negative net margin of 24.48% and a negative return on equity of 139.83%. As a group, sell-side analysts forecast that Neuronetics will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Jorey Chernett bought 475,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $1.34 per share, for a total transaction of $636,500.00. Following the acquisition, the insider directly owned 10,453,988 shares of the company’s stock, valued at $14,008,343.92. The trade was a 4.76% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Neuronetics

A number of institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in Neuronetics during the 2nd quarter valued at approximately $37,000. Sherbrooke Park Advisers LLC acquired a new stake in Neuronetics in the 3rd quarter valued at approximately $33,000. Caption Management LLC bought a new position in Neuronetics in the 3rd quarter worth approximately $38,000. Larson Financial Group LLC increased its position in Neuronetics by 157.2% in the 3rd quarter. Larson Financial Group LLC now owns 17,813 shares of the company’s stock worth $49,000 after buying an additional 10,886 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Neuronetics in the 2nd quarter worth approximately $69,000. 53.59% of the stock is currently owned by institutional investors.

About Neuronetics

Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.