Zacks Investment Research upgraded shares of NeuroMetrix Inc. (NASDAQ:NURO) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “Neurometrix is a medical device company establishing a new standard of care through the design, development and sale of proprietary products used to diagnose neuropathies. Neuropathies are diseases of the peripheral nerves and parts of the spine that frequently are caused by or associated with diabetes, low back pain and carpal tunnel syndrome, as well as other clinical disorders. “

Several other equities analysts have also recently issued reports on the stock. HC Wainwright set a $4.50 target price on shares of NeuroMetrix and gave the company a buy rating in a research note on Thursday, September 15th. Rodman & Renshaw restated a buy rating on shares of NeuroMetrix in a research note on Friday, July 22nd.

Shares of NeuroMetrix (NASDAQ:NURO) traded up 1.90% during midday trading on Tuesday, reaching $1.61. 5,565 shares of the company’s stock traded hands. NeuroMetrix has a one year low of $1.35 and a one year high of $3.80. The stock’s 50-day moving average price is $1.48 and its 200 day moving average price is $1.68. The firm’s market capitalization is $8.24 million.

NeuroMetrix (NASDAQ:NURO) last posted its earnings results on Thursday, July 21st. The medical device company reported ($5.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.93) by $4.44. The company had revenue of $2.65 million for the quarter, compared to the consensus estimate of $1.22 million. NeuroMetrix had a negative net margin of 145.19% and a negative return on equity of 136.94%. On average, equities research analysts expect that NeuroMetrix will post ($6.65) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in NeuroMetrix stock. Renaissance Technologies LLC raised its stake in shares of NeuroMetrix Inc. (NASDAQ:NURO) by 57.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,700 shares of the medical device company’s stock after buying an additional 21,000 shares during the period. Renaissance Technologies LLC owned approximately 1.43% of NeuroMetrix worth $106,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 8.62% of the company’s stock.

About NeuroMetrix

NeuroMetrix, Inc (NeuroMetrix) is a health-care company that develops wearable medical technology and point-of-care tests that help patients and physicians manage chronic pain, nerve diseases and sleep disorders. The Company operates through the sale of medical equipment and consumables segment. Its products are sold in the United States and selected overseas markets.

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