BTIG Research Begins Coverage on Neuronetics (NASDAQ:STIM)

Stock analysts at BTIG Research began coverage on shares of Neuronetics (NASDAQ:STIM) in a research note issued to investors on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $5.00 price target on the stock. BTIG Research’s price target indicates a potential upside of 165.96% from the company’s previous close.

STIM has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neuronetics in a research report on Thursday, June 18th. Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $4.00.

Neuronetics Price Performance

STIM opened at $1.88 on Monday. Neuronetics has a 1 year low of $0.80 and a 1 year high of $4.85. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.67 and a quick ratio of 1.50. The company has a market capitalization of $130.83 million, a price-to-earnings ratio of -3.48 and a beta of 1.06. The firm’s fifty day moving average price is $1.41 and its two-hundred day moving average price is $1.52.

Neuronetics (NASDAQ:STIM) last announced its earnings results on Tuesday, May 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.01. Neuronetics had a negative net margin of 24.48% and a negative return on equity of 139.83%. The company had revenue of $34.45 million during the quarter, compared to the consensus estimate of $34.17 million. As a group, analysts anticipate that Neuronetics will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Neuronetics

In related news, major shareholder Jorey Chernett purchased 475,000 shares of Neuronetics stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $1.34 per share, for a total transaction of $636,500.00. Following the completion of the transaction, the insider owned 10,453,988 shares in the company, valued at $14,008,343.92. This represents a 4.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STIM. Raymond James Financial Inc. purchased a new stake in shares of Neuronetics during the 2nd quarter worth approximately $37,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Neuronetics in the 3rd quarter worth approximately $33,000. Caption Management LLC purchased a new position in Neuronetics in the third quarter valued at approximately $38,000. Larson Financial Group LLC lifted its stake in Neuronetics by 157.2% in the third quarter. Larson Financial Group LLC now owns 17,813 shares of the company’s stock valued at $49,000 after purchasing an additional 10,886 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Neuronetics during the second quarter valued at $69,000. 53.59% of the stock is currently owned by hedge funds and other institutional investors.

About Neuronetics

Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.