Needham & Company LLC Lowers Biosig Technologies (NASDAQ:STEX) Price Target to $4.00

Biosig Technologies (NASDAQ:STEX) had its price target decreased by analysts at Needham & Company LLC to $4.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 346.13% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Biosig Technologies in a research note on Wednesday, July 29th. Wall Street Zen downgraded shares of Biosig Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.00.

Biosig Technologies Stock Down 13.8%

Shares of NASDAQ:STEX opened at $0.90 on Tuesday. The stock has a market capitalization of $163.00 million, a PE ratio of -0.10 and a beta of 1.98. The firm’s 50 day moving average price is $0.85 and its 200-day moving average price is $1.38. Biosig Technologies has a twelve month low of $0.66 and a twelve month high of $7.44.

Biosig Technologies (NASDAQ:STEX) last announced its earnings results on Friday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $0.15 million for the quarter.

Biosig Technologies announced that its board has initiated a stock buyback program on Tuesday, July 7th that permits the company to repurchase 10,000,000,000,000 shares. This repurchase authorization permits the company to purchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Biosig Technologies news, CIO Mitchell Young Williams sold 23,810 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1.05, for a total value of $25,000.50. Following the completion of the transaction, the executive directly owned 3,013,838 shares in the company, valued at $3,164,529.90. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Chairman Morgan Lee Lekstrom acquired 50,000 shares of Biosig Technologies stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of $0.99 per share, with a total value of $49,500.00. Following the completion of the purchase, the chairman owned 359,500 shares of the company’s stock, valued at approximately $355,905. This represents a 16.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 231,000 shares of company stock worth $252,360. 52.73% of the stock is owned by company insiders.

Biosig Technologies Company Profile

Biosig Technologies (NASDAQ:STEX) is a medical technology company focused on developing advanced signal acquisition and processing solutions for cardiac electrophysiology. The company’s work centers on improving the clarity and interpretability of intracardiac signals captured during electrophysiology procedures, with the goal of helping clinicians identify arrhythmogenic substrates and make more informed procedural decisions.

Its primary offering is a signal-processing platform that combines proprietary hardware and software to amplify, filter and display intracardiac electrical activity with reduced noise and distortion.