ClearPoint Neuro (NASDAQ:CLPT) PT Raised to $15.00 at Lake Street Capital

ClearPoint Neuro (NASDAQ:CLPT) had its target price lifted by Lake Street Capital from $11.00 to $15.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Separately, B. Riley assumed coverage on ClearPoint Neuro in a research note on Thursday, July 25th. They issued a buy rating and a $10.00 price objective on the stock.

ClearPoint Neuro Stock Performance

NASDAQ CLPT opened at $12.98 on Tuesday. The company has a market capitalization of $355.91 million, a PE ratio of -15.45 and a beta of 1.07. ClearPoint Neuro has a 52-week low of $4.05 and a 52-week high of $13.47. The company has a 50-day simple moving average of $8.15 and a 200 day simple moving average of $6.87.

ClearPoint Neuro (NASDAQ:CLPT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. ClearPoint Neuro had a negative net margin of 78.84% and a negative return on equity of 76.92%. The company had revenue of $7.86 million for the quarter, compared to analysts’ expectations of $7.50 million. During the same quarter in the previous year, the firm posted ($0.29) EPS. As a group, analysts forecast that ClearPoint Neuro will post -0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CLPT. XTX Topco Ltd boosted its position in shares of ClearPoint Neuro by 11.6% in the second quarter. XTX Topco Ltd now owns 13,010 shares of the company’s stock valued at $70,000 after acquiring an additional 1,353 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in ClearPoint Neuro by 7.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,867 shares of the company’s stock valued at $170,000 after buying an additional 1,813 shares during the period. Point72 DIFC Ltd bought a new stake in ClearPoint Neuro during the second quarter valued at $32,000. Lane Generational LLC grew its position in ClearPoint Neuro by 16.4% during the fourth quarter. Lane Generational LLC now owns 174,291 shares of the company’s stock worth $1,183,000 after buying an additional 24,512 shares in the last quarter. Finally, Legato Capital Management LLC increased its stake in ClearPoint Neuro by 21.6% in the 2nd quarter. Legato Capital Management LLC now owns 158,968 shares of the company’s stock worth $857,000 after acquiring an additional 28,227 shares during the last quarter. Institutional investors own 30.08% of the company’s stock.

About ClearPoint Neuro

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.