Neuronetics (NASDAQ:STIM) Trading 1.7% Higher – Here’s Why

Neuronetics, Inc. (NASDAQ:STIM)’s share price traded up 1.7% during trading on Thursday . The stock traded as high as $1.2981 and last traded at $1.23. Approximately 1,650,456 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 1,652,191 shares. The stock had previously closed at $1.21.

Analysts Set New Price Targets

STIM has been the subject of several research reports. Wall Street Zen upgraded shares of Neuronetics from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Canaccord Genuity Group dropped their target price on shares of Neuronetics from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.00.

Neuronetics Stock Up 1.7%

The stock has a fifty day moving average of $1.44 and a 200-day moving average of $1.51. The firm has a market capitalization of $85.60 million, a price-to-earnings ratio of -2.28 and a beta of 1.05. 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 announced its earnings results on Tuesday, May 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.01. The business had revenue of $34.45 million during the quarter, compared to the consensus estimate of $34.17 million. Neuronetics had a negative return on equity of 139.83% and a negative net margin of 24.48%. As a group, sell-side analysts expect that Neuronetics, Inc. will post -0.46 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Jorey Chernett bought 100,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of $1.17 per share, for a total transaction of $117,000.00. Following the completion of the acquisition, the insider directly owned 10,553,988 shares in the company, valued at $12,348,165.96. This represents a 0.96% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have bought 844,472 shares of company stock worth $1,150,456 over the last ninety days. 8.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neuronetics

A number of large investors have recently made changes to their positions in the company. Sherbrooke Park Advisers LLC acquired a new position in Neuronetics in the 3rd quarter worth approximately $33,000. Raymond James Financial Inc. purchased a new stake in shares of Neuronetics in the second quarter valued at $37,000. Caption Management LLC purchased a new stake in shares of Neuronetics in the third quarter valued at $38,000. Abel Hall LLC acquired a new stake in shares of Neuronetics in the fourth quarter worth $39,000. Finally, IMC Chicago LLC acquired a new stake in shares of Neuronetics in the first quarter worth $40,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Neuronetics Company Profile

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.