B. Riley Financial Cuts ClearPoint Neuro (NASDAQ:CLPT) Price Target to $18.00

ClearPoint Neuro (NASDAQ:CLPT) had its target price trimmed by B. Riley Financial from $28.00 to $18.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of ClearPoint Neuro from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Two 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, ClearPoint Neuro presently has a consensus rating of “Hold” and a consensus price target of $13.50.

ClearPoint Neuro Price Performance

Shares of NASDAQ:CLPT opened at $10.00 on Thursday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 5.56 and a current ratio of 6.37. The business’s fifty day moving average price is $13.63 and its two-hundred day moving average price is $15.59. The stock has a market cap of $284.20 million, a PE ratio of -11.90 and a beta of 1.02. ClearPoint Neuro has a one year low of $8.63 and a one year high of $30.10.

Insider Buying and Selling at ClearPoint Neuro

In other ClearPoint Neuro news, CEO Joseph Burnett sold 20,000 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $16.12, for a total transaction of $322,400.00. Following the transaction, the chief executive officer owned 11,565 shares of the company’s stock, valued at $186,427.80. This represents a 63.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 6.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ClearPoint Neuro

Several institutional investors have recently added to or reduced their stakes in the business. MGO One Seven LLC lifted its position in ClearPoint Neuro by 6.0% during the third quarter. MGO One Seven LLC now owns 19,026 shares of the company’s stock worth $415,000 after buying an additional 1,077 shares during the period. Commonwealth Equity Services LLC grew its holdings in ClearPoint Neuro by 1.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 65,557 shares of the company’s stock valued at $897,000 after buying an additional 1,109 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of ClearPoint Neuro by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,791 shares of the company’s stock valued at $367,000 after acquiring an additional 1,204 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in shares of ClearPoint Neuro during the 3rd quarter valued at about $28,000. Finally, Pekin Hardy Strauss Inc. lifted its holdings in shares of ClearPoint Neuro by 3.6% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 50,575 shares of the company’s stock worth $604,000 after acquiring an additional 1,750 shares during the period. 30.08% of the stock is currently owned by institutional investors and hedge funds.

ClearPoint Neuro Company Profile

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.