Zacks Investment Research Downgrades Greenbrook TMS (NASDAQ:GBNH) to Sell

Zacks Investment Research lowered shares of Greenbrook TMS (NASDAQ:GBNH) from a hold rating to a sell rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “Greenbrook TMS Inc. is a provider of Transcranial Magnetic Stimulation therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, principally in the United States. Greenbrook TMS Inc. is based in TORONTO. “

A number of other equities research analysts have also weighed in on the company. Lake Street Capital assumed coverage on Greenbrook TMS in a research report on Tuesday, October 5th. They set a buy rating and a $17.00 price objective on the stock. Clarus Securities reduced their price objective on Greenbrook TMS from C$26.00 to C$23.75 and set a buy rating on the stock in a research report on Thursday, November 11th. Stifel Nicolaus reduced their price objective on Greenbrook TMS from C$22.00 to C$19.00 and set a buy rating on the stock in a research report on Thursday, November 11th. Desjardins reduced their price objective on Greenbrook TMS from C$20.00 to C$18.50 and set a buy rating on the stock in a research report on Tuesday, November 23rd. Finally, reduced their price target on Greenbrook TMS from C$20.00 to C$18.50 and set a buy rating on the stock in a research report on Thursday, November 11th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $18.79.

Shares of GBNH opened at $3.83 on Tuesday. Greenbrook TMS has a 52-week low of $3.00 and a 52-week high of $17.55. The business’s fifty day moving average is $5.33 and its 200-day moving average is $8.43. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.59.

Greenbrook TMS (NASDAQ:GBNH) last issued its quarterly earnings data on Tuesday, November 9th. The company reported ($0.22) earnings per share for the quarter. The firm had revenue of $13.13 million for the quarter, compared to the consensus estimate of $14.10 million. Greenbrook TMS had a negative return on equity of 278.24% and a negative net margin of 55.87%. Research analysts forecast that Greenbrook TMS will post -1.59 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in shares of Greenbrook TMS by 243.1% in the 3rd quarter. Royal Bank of Canada now owns 6,848 shares of the company’s stock valued at $51,000 after buying an additional 4,852 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Greenbrook TMS in the 3rd quarter valued at about $103,000. Rockefeller Capital Management L.P. acquired a new position in shares of Greenbrook TMS in the 3rd quarter valued at about $109,000. Masters Capital Management LLC acquired a new position in shares of Greenbrook TMS in the 2nd quarter valued at about $3,025,000. Finally, AWM Investment Company Inc. acquired a new position in shares of Greenbrook TMS in the 2nd quarter valued at about $7,412,000. Hedge funds and other institutional investors own 16.38% of the company’s stock.

Greenbrook TMS Company Profile

Greenbrook Tms, Inc engages in the provision of transcranial magnetic stimulation, an FDA-cleared, non-invasive therapy for the treatment of major depressive disorder. The company was founded on February 9, 2018 and is headquartered in Toronto, Canada.

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