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

Neuronetics, Inc. (NASDAQ:STIM) has been given an average rating of “Moderate Buy” by the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $4.67.

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

Insider Activity at Neuronetics

In other Neuronetics news, major shareholder Jorey Chernett bought 14,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $3.16 per share, for a total transaction of $44,240.00. Following the transaction, the insider directly owned 10,602,988 shares in the company, valued at approximately $33,505,442.08. This trade represents a 0.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.40% of the stock is currently owned by insiders.

Institutional Trading of Neuronetics

Hedge funds have recently modified their holdings of the stock. Madryn Asset Management LP acquired a new position in Neuronetics during the 2nd quarter worth approximately $24,102,634. BlackRock Inc. acquired a new stake in Neuronetics in the second quarter valued at approximately $776,000. FourWorld Capital Management LLC grew its stake in Neuronetics by 59.9% in the first quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock valued at $2,160,000 after acquiring an additional 558,072 shares during the period. AdvisorShares Investments LLC increased its holdings in shares of Neuronetics by 127.8% during the first quarter. AdvisorShares Investments LLC now owns 617,193 shares of the company’s stock valued at $895,000 after acquiring an additional 346,277 shares in the last quarter. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of Neuronetics during the first quarter valued at approximately $161,000. Institutional investors own 53.59% of the company’s stock.

Neuronetics Trading Down 5.5%

Shares of NASDAQ STIM opened at $2.25 on Friday. The firm has a 50 day moving average price of $2.52 and a two-hundred day moving average price of $1.87. The stock has a market cap of $171.45 million, a P/E ratio of -5.11 and a beta of 1.19. Neuronetics has a 52-week low of $0.80 and a 52-week high of $3.44. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.69 and a current ratio of 1.88.

Neuronetics (NASDAQ:STIM) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. Neuronetics had a negative net margin of 19.62% and a negative return on equity of 125.11%. The company had revenue of $41.57 million for the quarter, compared to analyst estimates of $40.17 million. As a group, equities analysts forecast that Neuronetics will post -0.33 EPS for the current year.

About Neuronetics

Neuronetics, Inc is a medical technology company that develops and commercializes noninvasive treatments for psychiatric and neurological disorders. Its primary product is NeuroStar TMS Therapy, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain associated with mood regulation.

NeuroStar TMS Therapy is cleared by the U.S. Food and Drug Administration for treating major depressive disorder in adults and adolescents, obsessive-compulsive disorder, and depression with anxious distress.