B. Riley Financial Forecasts Strong Price Appreciation for ClearPoint Neuro (NASDAQ:CLPT) Stock

ClearPoint Neuro (NASDAQ:CLPT) had its price objective raised by equities researchers at B. Riley Financial from $18.00 to $20.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s price target would indicate a potential upside of 117.86% from the stock’s previous close.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearPoint Neuro in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.50.

ClearPoint Neuro Trading Down 4.4%

NASDAQ CLPT opened at $9.18 on Wednesday. ClearPoint Neuro has a 52 week low of $8.63 and a 52 week high of $30.10. The company has a debt-to-equity ratio of 1.75, a quick ratio of 5.56 and a current ratio of 5.91. The stock’s 50 day moving average price is $13.01 and its two-hundred day moving average price is $15.58. The stock has a market capitalization of $272.28 million, a price-to-earnings ratio of -10.09 and a beta of 1.02.

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 business had revenue of $10.41 million for the quarter, compared to the consensus estimate of $10.40 million. As a group, analysts anticipate that ClearPoint Neuro will post -0.66 earnings per share for the current fiscal year.

Insider Activity at ClearPoint Neuro

In related news, CEO Joseph Burnett sold 2,943 shares of ClearPoint Neuro stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $15.57, for a total transaction of $45,822.51. Following the completion of the sale, the chief executive officer owned 214,116 shares of the company’s stock, valued at approximately $3,333,786.12. The trade was a 1.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.97% of the company’s stock.

Institutional Investors Weigh In On ClearPoint Neuro

Institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in ClearPoint Neuro during the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd bought a new position in ClearPoint Neuro during the 4th quarter worth $25,000. Huntington National Bank bought a new position in ClearPoint Neuro during the 3rd quarter worth $44,000. Allworth Financial LP lifted its holdings in shares of ClearPoint Neuro by 3,076.9% during the second quarter. Allworth Financial LP now owns 2,065 shares of the company’s stock worth $25,000 after buying an additional 2,000 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of ClearPoint Neuro by 2,435.2% during the second quarter. BNP Paribas Financial Markets now owns 2,231 shares of the company’s stock worth $27,000 after buying an additional 2,143 shares in the last quarter. Institutional investors own 30.08% of the company’s stock.

About ClearPoint Neuro

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.