Neuronetics, Inc. (NASDAQ:STIM) Receives $12.00 Consensus Price Target from Brokerages

Neuronetics, Inc. (NASDAQ:STIM) has been given an average recommendation of “Hold” by the six analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $12.00.

Several research analysts recently commented on the company. Piper Sandler cut their price target on Neuronetics from $10.00 to $9.00 in a research note on Monday, January 3rd. cut their price target on Neuronetics from $21.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, October 13th. JMP Securities reiterated a “buy” rating and issued a $12.00 price target (down previously from $18.00) on shares of Neuronetics in a research note on Thursday, October 14th. BTIG Research cut Neuronetics from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 13th. Finally, Zacks Investment Research upgraded Neuronetics from a “sell” rating to a “hold” rating in a research note on Tuesday.

Shares of STIM opened at $4.01 on Wednesday. The stock’s 50-day moving average is $4.36 and its two-hundred day moving average is $7.68. The stock has a market cap of $105.74 million, a PE ratio of -3.65 and a beta of 2.37. Neuronetics has a 12 month low of $3.64 and a 12 month high of $22.43.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings results on Tuesday, November 9th. The company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.03). Neuronetics had a negative return on equity of 34.48% and a negative net margin of 48.71%. The business had revenue of $13.80 million during the quarter, compared to analyst estimates of $13.80 million. During the same quarter last year, the firm posted ($0.18) EPS. As a group, analysts predict that Neuronetics will post -1.23 EPS for the current year.

In related news, Director Robert Cascella bought 15,000 shares of the stock in a transaction dated Monday, November 22nd. The stock was bought at an average cost of $4.10 per share, with a total value of $61,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce Joseph Shook sold 7,797 shares of the company’s stock in a transaction that occurred on Friday, November 12th. The shares were sold at an average price of $5.30, for a total value of $41,324.10. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Moors & Cabot Inc. bought a new position in shares of Neuronetics during the third quarter valued at approximately $55,000. Bank of New York Mellon Corp grew its holdings in shares of Neuronetics by 10.2% during the third quarter. Bank of New York Mellon Corp now owns 118,497 shares of the company’s stock valued at $777,000 after purchasing an additional 10,966 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Neuronetics by 469.0% during the third quarter. BNP Paribas Arbitrage SA now owns 5,030 shares of the company’s stock valued at $33,000 after purchasing an additional 4,146 shares during the last quarter. TownSquare Capital LLC grew its holdings in shares of Neuronetics by 172.0% during the third quarter. TownSquare Capital LLC now owns 28,771 shares of the company’s stock valued at $189,000 after purchasing an additional 18,193 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Neuronetics by 158.5% during the third quarter. Two Sigma Advisers LP now owns 349,000 shares of the company’s stock valued at $2,289,000 after purchasing an additional 214,000 shares during the last quarter. 79.88% of the stock is owned by institutional investors.

Neuronetics Company Profile

Neuronetics, Inc commercial stage medical technology company, which engages in the designing, developing and marketing products for the patients suffering from psychiatric disorders. It operates through United States and International geographical segments. The firm offers NeuroStar TMS, a therapy system for the treatment of major depressive disorders in adult patients.

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