Neuronetics (NASDAQ:STIM) Given New $3.00 Price Target at JMP Securities

Neuronetics (NASDAQ:STIM) had its price target reduced by research analysts at JMP Securities from $7.00 to $3.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price would indicate a potential upside of 270.10% from the stock’s previous close.

A number of other research firms have also weighed in on STIM. William Blair reissued a “market perform” rating on shares of Neuronetics in a report on Monday. Canaccord Genuity Group cut their target price on shares of Neuronetics from $6.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday.

Neuronetics Price Performance

Shares of Neuronetics stock traded up $0.07 on Wednesday, hitting $0.81. 608,934 shares of the company traded hands, compared to its average volume of 223,629. The stock has a market capitalization of $24.32 million, a P/E ratio of -0.84 and a beta of 2.32. The company has a debt-to-equity ratio of 2.15, a quick ratio of 5.18 and a current ratio of 5.65. Neuronetics has a 52 week low of $0.66 and a 52 week high of $5.07. The business has a 50-day simple moving average of $1.83 and a 200 day simple moving average of $2.88.

Neuronetics (NASDAQ:STIM) last posted its earnings results on Monday, August 12th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). Neuronetics had a negative net margin of 37.61% and a negative return on equity of 75.84%. The business had revenue of $16.45 million during the quarter, compared to analysts’ expectations of $18.76 million. During the same period last year, the business posted ($0.17) earnings per share. Research analysts expect that Neuronetics will post -0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert Cascella acquired 50,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was bought at an average cost of $2.05 per share, with a total value of $102,500.00. Following the completion of the purchase, the director now directly owns 244,098 shares of the company’s stock, valued at $500,400.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert Cascella bought 50,000 shares of the stock in a transaction dated Thursday, June 6th. The stock was purchased at an average cost of $2.05 per share, with a total value of $102,500.00. Following the completion of the purchase, the director now owns 244,098 shares of the company’s stock, valued at $500,400.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Keith J. Sullivan sold 24,162 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $1.90, for a total transaction of $45,907.80. Following the sale, the chief executive officer now directly owns 1,324,354 shares of the company’s stock, valued at $2,516,272.60. The disclosure for this sale can be found here. 9.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Neuronetics

A number of large investors have recently bought and sold shares of STIM. Worth Venture Partners LLC purchased a new stake in Neuronetics in the 4th quarter worth approximately $30,000. Legato Capital Management LLC purchased a new stake in Neuronetics in the 2nd quarter worth approximately $44,000. SG Americas Securities LLC purchased a new stake in Neuronetics in the 1st quarter worth approximately $62,000. Fielder Capital Group LLC purchased a new stake in Neuronetics in the 4th quarter worth approximately $66,000. Finally, Gabelli Funds LLC boosted its position in Neuronetics by 88.2% in the 2nd quarter. Gabelli Funds LLC now owns 48,000 shares of the company’s stock worth $86,000 after purchasing an additional 22,500 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

About Neuronetics

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder.