Neuronetics (NASDAQ:STIM) Given New $6.00 Price Target at B. Riley Financial

Neuronetics (NASDAQ:STIM) had its target price upped by B. Riley Financial from $5.00 to $6.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on STIM. Citigroup reissued a “market outperform” rating on shares of Neuronetics in a research note on Tuesday, July 21st. BTIG Research reiterated a “buy” rating and issued a $6.00 price target on shares of Neuronetics in a report on Thursday, September 17th. Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a report on Monday, September 14th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Neuronetics Price Performance

NASDAQ:STIM traded down $0.28 during trading hours on Friday, reaching $2.15. 3,660,630 shares of the company traded hands, compared to its average volume of 677,390. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.88 and a quick ratio of 1.69. The firm’s 50-day moving average is $2.46 and its 200-day moving average is $1.88. The stock has a market cap of $163.83 million, a P/E ratio of -6.52 and a beta of 1.36. Neuronetics has a 1-year low of $0.80 and a 1-year high of $3.44.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.07. The company had revenue of $41.96 million during the quarter, compared to analysts’ expectations of $40.42 million. Neuronetics had a negative return on equity of 125.11% and a negative net margin of 19.62%. Equities research analysts expect that Neuronetics will post -0.33 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Jorey Chernett bought 18,000 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was purchased at an average cost of $2.27 per share, for a total transaction of $40,860.00. Following the completion of the acquisition, the insider owned 10,620,988 shares in the company, valued at $24,109,642.76. This trade represents a 0.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Neuronetics

Large investors have recently bought and sold shares of the stock. Fielder Capital Group LLC purchased a new stake in shares of Neuronetics during the 2nd quarter valued at $30,000. State of Wyoming purchased a new position in shares of Neuronetics in the 2nd quarter worth $31,000. IMC Chicago LLC purchased a new position in shares of Neuronetics in the 1st quarter worth $40,000. David J Yvars Group raised its position in shares of Neuronetics by 35.7% in the 2nd quarter. David J Yvars Group now owns 27,550 shares of the company’s stock worth $36,000 after buying an additional 7,250 shares during the period. Finally, T3 Companies LLC acquired a new position in Neuronetics in the third quarter valued at $88,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Neuronetics Company Profile

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.