Craig Hallum Upgrades NeurAxis (NASDAQ:NRXS) to Strong-Buy

NeurAxis (NASDAQ:NRXS) was upgraded by stock analysts at Craig Hallum to a “strong-buy” rating in a research note issued on Monday, MarketBeat reports. The brokerage presently has a $7.00 price objective on the stock. Craig Hallum’s price target would suggest a potential upside of 176.68% from the stock’s previous close.

NeurAxis Stock Performance

Shares of NeurAxis stock opened at $2.53 on Monday. NeurAxis has a 52 week low of $1.33 and a 52 week high of $6.20. The firm has a fifty day moving average of $2.38 and a two-hundred day moving average of $2.40. The stock has a market capitalization of $18.26 million, a price-to-earnings ratio of -1.38 and a beta of 3.34.

Insider Activity at NeurAxis

In other news, major shareholder Brian Hannasch acquired 18,065 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average price of $1.73 per share, for a total transaction of $31,252.45. Following the transaction, the insider now directly owns 775,966 shares in the company, valued at approximately $1,342,421.18. This represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 26.40% of the stock is owned by corporate insiders.

Institutional Trading of NeurAxis

A hedge fund recently bought a new stake in NeurAxis stock. AIGH Capital Management LLC bought a new position in shares of NeurAxis, Inc. (NASDAQ:NRXS) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 19,869 shares of the company’s stock, valued at approximately $43,000. AIGH Capital Management LLC owned approximately 0.28% of NeurAxis at the end of the most recent quarter. 11.77% of the stock is currently owned by hedge funds and other institutional investors.

About NeurAxis

NeurAxis, Inc, a medical technology company, focuses on developing neuromodulation therapies to address chronic and debilitating conditions in children and adults in the United States. It offers IB-Stim, a percutaneous electrical nerve field stimulation system intended to be used in patients 11-18 years of age with functional abdominal pain associated with irritable bowel syndrome.