Neuronetics Inc (STIM) Receives Consensus Rating of “Buy” from Brokerages

Neuronetics Inc (NASDAQ:STIM) has received a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $31.60.

Several brokerages have weighed in on STIM. BTIG Research reaffirmed a “buy” rating and issued a $25.00 target price on shares of Neuronetics in a research report on Wednesday, March 6th. Piper Jaffray Companies dropped their target price on Neuronetics from $35.00 to $28.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 5th.

Shares of NASDAQ STIM opened at $15.25 on Friday. Neuronetics has a 1-year low of $13.26 and a 1-year high of $39.39. The company has a current ratio of 8.44, a quick ratio of 8.26 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $266.31 million and a price-to-earnings ratio of -5.67.

Neuronetics (NASDAQ:STIM) last issued its earnings results on Tuesday, March 5th. The company reported ($0.35) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.01. Sell-side analysts anticipate that Neuronetics will post -1.63 EPS for the current fiscal year.

In other news, VP Peter Donato sold 26,238 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $16.15, for a total transaction of $423,743.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Several institutional investors and hedge funds have recently modified their holdings of STIM. BlackRock Inc. increased its holdings in shares of Neuronetics by 16,237.6% during the third quarter. BlackRock Inc. now owns 408,440 shares of the company’s stock valued at $13,095,000 after purchasing an additional 405,940 shares during the period. Vanguard Group Inc grew its holdings in Neuronetics by 1,510.2% during the third quarter. Vanguard Group Inc now owns 241,533 shares of the company’s stock worth $7,744,000 after acquiring an additional 226,533 shares during the period. Vanguard Group Inc. grew its holdings in Neuronetics by 1,510.2% during the third quarter. Vanguard Group Inc. now owns 241,533 shares of the company’s stock worth $7,744,000 after acquiring an additional 226,533 shares during the period. Point72 Asset Management L.P. grew its holdings in Neuronetics by 706.2% during the third quarter. Point72 Asset Management L.P. now owns 241,852 shares of the company’s stock worth $7,754,000 after acquiring an additional 211,852 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new position in Neuronetics during the third quarter worth about $4,093,000. 69.36% of the stock is currently owned by institutional investors.

About Neuronetics

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric disorders. It offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment for adult patients with major depressive disorder. The company's NeuroStar Advanced Therapy System uses transcranial magnetic stimulation to create a pulsed MRI-strength magnetic field, which induces electrical currents designed to stimulate specific areas of the brain associated with mood.

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Analyst Recommendations for Neuronetics (NASDAQ:STIM)

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