Neuronetics (NASDAQ:STIM) Now Covered by BTIG Research

BTIG Research initiated coverage on shares of Neuronetics (NASDAQ:STIM) in a report issued on Monday, Marketbeat reports. The brokerage issued a buy rating and a $5.00 price objective on the stock.

A number of other equities analysts have also recently commented on STIM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, June 18th. Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.00.

Neuronetics Stock Up 24.7%

Shares of NASDAQ:STIM opened at $2.02 on Monday. The stock’s 50-day moving average price is $1.40 and its 200-day moving average price is $1.52. Neuronetics has a 12-month low of $0.80 and a 12-month high of $4.85. The stock has a market capitalization of $140.57 million, a P/E ratio of -3.74 and a beta of 1.06. The company has a current ratio of 1.67, a quick ratio of 1.50 and a debt-to-equity ratio of 3.59.

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

Insider Transactions at Neuronetics

In related news, major shareholder Jorey Chernett acquired 475,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $1.34 per share, for a total transaction of $636,500.00. Following the completion of the acquisition, the insider directly owned 10,453,988 shares of the company’s stock, valued at approximately $14,008,343.92. This represents a 4.76% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Neuronetics in the 2nd quarter valued at approximately $37,000. Sherbrooke Park Advisers LLC purchased a new stake in Neuronetics in the third quarter worth $33,000. Caption Management LLC purchased a new stake in Neuronetics in the third quarter worth $38,000. Larson Financial Group LLC raised its holdings in Neuronetics by 157.2% in the third quarter. Larson Financial Group LLC now owns 17,813 shares of the company’s stock worth $49,000 after purchasing an additional 10,886 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Neuronetics in the second quarter worth $69,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

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.