ClearPoint Neuro (NASDAQ:CLPT) Now Covered by Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of ClearPoint Neuro (NASDAQ:CLPT) in a research note issued to investors on Friday. The brokerage issued a buy rating and a $16.00 target price on the stock.

CLPT has been the topic of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Monday, April 20th. B. Riley Financial upped their price target on ClearPoint Neuro from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.00.

ClearPoint Neuro Price Performance

Shares of NASDAQ CLPT opened at $12.82 on Friday. The stock’s 50-day moving average is $10.40 and its two-hundred day moving average is $13.72. The company has a debt-to-equity ratio of 1.75, a current ratio of 5.91 and a quick ratio of 5.13. ClearPoint Neuro has a 1-year low of $8.27 and a 1-year high of $30.10. The company has a market cap of $384.47 million, a price-to-earnings ratio of -14.09 and a beta of 1.29.

ClearPoint Neuro (NASDAQ:CLPT) last issued its quarterly earnings results on Tuesday, March 17th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.05). ClearPoint Neuro had a negative return on equity of 122.17% and a negative net margin of 69.08%.The company had revenue of $10.41 million for the quarter, compared to analysts’ expectations of $10.40 million. Analysts forecast that ClearPoint Neuro will post -0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CLPT. Millennium Management LLC increased its holdings in shares of ClearPoint Neuro by 156.3% in the 1st quarter. Millennium Management LLC now owns 741,193 shares of the company’s stock valued at $8,813,000 after acquiring an additional 452,043 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of ClearPoint Neuro in the 1st quarter valued at about $3,388,000. FirstWave Capital Management LLC purchased a new position in shares of ClearPoint Neuro in the 4th quarter valued at about $4,971,000. Two Sigma Investments LP increased its holdings in shares of ClearPoint Neuro by 1,316.1% in the 3rd quarter. Two Sigma Investments LP now owns 310,526 shares of the company’s stock valued at $6,766,000 after acquiring an additional 288,598 shares during the last quarter. Finally, Boone Capital Management LLC purchased a new position in shares of ClearPoint Neuro in the 3rd quarter valued at about $6,186,000. Hedge funds and other institutional investors own 30.08% of the company’s stock.

ClearPoint Neuro Company Profile

ClearPoint Neuro, Inc is a medical technology company specializing in the development and commercialization of an MRI-guided therapy platform for minimally invasive neurosurgical procedures. Headquartered in Cambridge, Massachusetts, the company’s flagship ClearPoint® SmartFrame™ system enables surgeons to perform accurate and efficient intracranial interventions by providing real-time magnetic resonance imaging feedback. This technology is designed to improve patient safety and outcomes in treatments ranging from deep brain stimulation electrode placement to laser ablation of epileptic foci and brain tumors.

The ClearPoint System integrates hardware, software and imaging capabilities to guide instruments through the brain with submillimeter precision.