ClearPoint Neuro (NASDAQ:CLPT) Price Target Raised to $20.00

ClearPoint Neuro (NASDAQ:CLPT) had its target price hoisted by stock analysts at B. Riley Financial from $18.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s price target would suggest a potential upside of 106.42% from the stock’s previous close.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of ClearPoint Neuro in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ClearPoint Neuro presently has an average rating of “Hold” and an average target price of $14.50.

ClearPoint Neuro Stock Down 13.2%

Shares of ClearPoint Neuro stock traded down $1.47 during trading hours on Wednesday, hitting $9.69. The company had a trading volume of 969,992 shares, compared to its average volume of 838,789. The company has a debt-to-equity ratio of 1.84, a current ratio of 6.37 and a quick ratio of 5.56. The company’s 50-day moving average is $13.25 and its two-hundred day moving average is $15.67. The company has a market cap of $275.39 million, a P/E ratio of -11.54 and a beta of 1.02. ClearPoint Neuro has a twelve month low of $8.63 and a twelve month high of $30.10.

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). The company had revenue of $10.41 million during the quarter, compared to analysts’ expectations of $10.40 million. ClearPoint Neuro had a negative net margin of 67.40% and a negative return on equity of 114.28%. Analysts anticipate that ClearPoint Neuro will post -0.66 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Joseph Burnett sold 20,000 shares of the business’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $16.12, for a total value of $322,400.00. Following the transaction, the chief executive officer owned 11,565 shares in the company, valued at $186,427.80. The trade was a 63.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.11% of the stock is currently owned by corporate insiders.

Institutional Trading of ClearPoint Neuro

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in ClearPoint Neuro by 3,076.9% during the 2nd quarter. Allworth Financial LP now owns 2,065 shares of the company’s stock worth $25,000 after acquiring an additional 2,000 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of ClearPoint Neuro in the fourth quarter valued at approximately $25,000. BNP Paribas Financial Markets raised its stake in shares of ClearPoint Neuro by 2,435.2% during the second quarter. BNP Paribas Financial Markets now owns 2,231 shares of the company’s stock worth $27,000 after purchasing an additional 2,143 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of ClearPoint Neuro during the third quarter worth approximately $28,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of ClearPoint Neuro during the second quarter worth $32,000. 30.08% of the stock is 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.