Zacks Investment Research Upgrades NeuroMetrix, Inc. (NASDAQ:NURO) to Buy
NeuroMetrix, Inc. (NASDAQ:NURO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm currently has a $3.00 price objective on the medical device company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.52% from the stock’s current price.
According to Zacks, “Neurometrix is a medical device company establishing a new standard of care through the design, development and sale of proprietary products used to diagnose neuropathies. Neuropathies are diseases of the peripheral nerves and parts of the spine that frequently are caused by or associated with diabetes, low back pain and carpal tunnel syndrome, as well as other clinical disorders. “
Several other analysts have also commented on the company. HC Wainwright set a $16.00 target price on NeuroMetrix and gave the stock a “buy” rating in a report on Thursday, June 15th. ValuEngine lowered NeuroMetrix from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd.
NeuroMetrix (NURO) opened at 2.69 on Wednesday. NeuroMetrix has a 52 week low of $0.38 and a 52 week high of $4.50. The company’s market capitalization is $3.41 million. The company’s 50 day moving average price is $3.28 and its 200-day moving average price is $1.33.
NeuroMetrix (NASDAQ:NURO) last posted its earnings results on Thursday, April 20th. The medical device company reported ($7.28) EPS for the quarter, missing the consensus estimate of ($3.92) by $3.36. The company had revenue of $4.31 million for the quarter, compared to analyst estimates of $4.17 million. NeuroMetrix had a negative return on equity of 175.24% and a negative net margin of 99.95%. Equities research analysts expect that NeuroMetrix will post ($10.50) earnings per share for the current year.
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A hedge fund recently raised its stake in NeuroMetrix stock. Sabby Management LLC raised its stake in shares of NeuroMetrix, Inc. (NASDAQ:NURO) by 81.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,104 shares of the medical device company’s stock after buying an additional 135,836 shares during the period. Sabby Management LLC owned 2.98% of NeuroMetrix worth $187,000 at the end of the most recent reporting period. 64.07% of the stock is currently owned by institutional investors and hedge funds.
NeuroMetrix, Inc is a healthcare company combining bioelectrical and digital medicine to address chronic health conditions, including chronic pain, sleep disorders and diabetes. The Company is engaged in the sale of medical equipment, and consumables and accessories. It has two principal product lines: Wearable neuro-stimulation therapeutic devices and Point-of-care neuropathy diagnostic tests.
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