Neuronetics, Inc. (NASDAQ:STIM) Stock Has Average Target Price of $4.67

Neuronetics, Inc. (NASDAQ:STIM) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.67.

A number of brokerages have recently commented on STIM. Citigroup reiterated a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. BTIG Research restated a “buy” rating and issued a $6.00 price objective on shares of Neuronetics in a report on Thursday, September 17th. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. B. Riley Financial initiated coverage on Neuronetics in a research report on Friday, September 11th. They set a “buy” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neuronetics in a report on Monday, September 14th.

Insider Activity at Neuronetics

In related news, major shareholder Jorey Chernett bought 14,000 shares of Neuronetics stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $3.16 per share, for a total transaction of $44,240.00. Following the completion of the acquisition, the insider directly owned 10,602,988 shares of the company’s stock, valued at approximately $33,505,442.08. The trade was a 0.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 8.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Neuronetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fielder Capital Group LLC acquired a new stake in shares of Neuronetics during the second quarter worth $30,000. State of Wyoming acquired a new position in Neuronetics in the second quarter valued at $31,000. IMC Chicago LLC acquired a new position in Neuronetics in the first quarter valued at $40,000. David J Yvars Group boosted its position in Neuronetics by 35.7% during the second quarter. David J Yvars Group now owns 27,550 shares of the company’s stock valued at $36,000 after acquiring an additional 7,250 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Neuronetics during the second quarter valued at $50,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Neuronetics Stock Performance

Shares of STIM stock opened at $2.14 on Tuesday. The firm has a market capitalization of $163.06 million, a price-to-earnings ratio of -4.86 and a beta of 1.19. The company has a current ratio of 1.88, a quick ratio of 1.69 and a debt-to-equity ratio of 2.84. The business’s 50-day moving average price is $2.73 and its 200-day moving average price is $1.93. Neuronetics has a 12 month low of $0.80 and a 12 month high of $3.44.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.07. The company had revenue of $41.57 million during the quarter, compared to the consensus estimate of $40.17 million. Neuronetics had a negative return on equity of 125.11% and a negative net margin of 19.62%. Equities research analysts forecast that Neuronetics will post -0.33 EPS for the current year.

Neuronetics Company Profile

Neuronetics, Inc is a medical technology company focused on developing and commercializing noninvasive treatments for mental health conditions. The company’s primary product is the NeuroStar Advanced Therapy system, which uses transcranial magnetic stimulation (TMS) to deliver targeted magnetic pulses to areas of the brain associated with mood and related symptoms.

NeuroStar TMS Therapy is cleared by the U.S. Food and Drug Administration for the treatment of major depressive disorder in adults and adolescents, obsessive-compulsive disorder in adults, and certain associated indications.