NeuroOne Medical Technologies (NASDAQ:NMTC) Price Target Raised to $8.00 at LADENBURG THALM/SH SH

NeuroOne Medical Technologies (NASDAQ:NMTC) had its price objective upped by investment analysts at LADENBURG THALM/SH SH from $1.60 to $8.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. LADENBURG THALM/SH SH’s price objective would suggest a potential upside of 77.38% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Weiss Ratings downgraded NeuroOne Medical Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Zacks Research downgraded NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Wall Street Zen raised shares of NeuroOne Medical Technologies to a “sell” rating in a research report on Saturday, February 21st. Finally, JonesTrading assumed coverage on shares of NeuroOne Medical Technologies in a report on Monday, March 2nd. They set a “buy” rating and a $9.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.67.

NeuroOne Medical Technologies Price Performance

NASDAQ NMTC traded up $0.12 on Wednesday, hitting $4.51. 61,075 shares of the stock were exchanged, compared to its average volume of 43,700. The company’s 50-day moving average price is $4.56 and its two-hundred day moving average price is $4.56. NeuroOne Medical Technologies has a 52-week low of $3.27 and a 52-week high of $6.96. The company has a market capitalization of $37.97 million, a price-to-earnings ratio of -4.42 and a beta of 0.60.

NeuroOne Medical Technologies (NASDAQ:NMTC) last released its earnings results on Tuesday, May 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). NeuroOne Medical Technologies had a negative net margin of 78.34% and a negative return on equity of 119.92%. The business had revenue of $2.39 million during the quarter, compared to analysts’ expectations of $2.58 million. Equities analysts predict that NeuroOne Medical Technologies will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling at NeuroOne Medical Technologies

In other news, insider David J. Wambeke purchased 166,666 shares of NeuroOne Medical Technologies stock in a transaction dated Sunday, March 1st. The stock was acquired at an average cost of $4.02 per share, for a total transaction of $669,997.32. Following the acquisition, the insider directly owned 166,666 shares in the company, valued at $669,997.32. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 2,438 shares of company stock worth $11,702. 11.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On NeuroOne Medical Technologies

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in NeuroOne Medical Technologies by 10.2% in the fourth quarter. Renaissance Technologies LLC now owns 763,028 shares of the company’s stock valued at $578,000 after acquiring an additional 70,428 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of NeuroOne Medical Technologies by 31.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,578,237 shares of the company’s stock worth $1,403,000 after purchasing an additional 375,639 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of NeuroOne Medical Technologies during the 4th quarter valued at $143,000. Virtu Financial LLC acquired a new stake in shares of NeuroOne Medical Technologies in the 3rd quarter valued at $88,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of NeuroOne Medical Technologies in the 1st quarter valued at $84,000. Institutional investors and hedge funds own 16.07% of the company’s stock.

About NeuroOne Medical Technologies

NeuroOne Medical Technologies Corp. is a medical device company focused on developing advanced neural interface technologies for diagnostic and therapeutic applications in neurosurgery and neurology. The company’s core mission is to improve patient outcomes through next-generation electrode systems that enable high-resolution neural recording and targeted stimulation. By leveraging proprietary thin-film microelectrode arrays, NeuroOne aims to offer clinicians unprecedented single-unit precision during brain mapping procedures.

The company’s flagship platform, the EVO™ system, integrates thin-film neural electrodes with intraoperative monitoring hardware and software.