BTIG Research Reiterates Buy Rating for Neuronetics (STIM)

Neuronetics (NASDAQ:STIM)‘s stock had its “buy” rating reiterated by stock analysts at BTIG Research in a research note issued on Thursday. They presently have a $33.00 price objective on the stock. BTIG Research’s target price suggests a potential upside of 5.53% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. JMP Securities initiated coverage on Neuronetics in a report on Monday, July 23rd. They set a “$26.02” rating and a $36.00 target price on the stock. Canaccord Genuity boosted their target price on Neuronetics from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday. William Blair started coverage on Neuronetics in a report on Monday, July 23rd. They set an “outperform” rating on the stock. Finally, Piper Jaffray Companies started coverage on shares of Neuronetics in a research report on Monday, July 23rd. They issued an “overweight” rating on the stock. Five investment analysts have rated the stock with a buy rating, Neuronetics currently has a consensus rating of “Buy” and an average target price of $36.33.

Shares of NASDAQ:STIM opened at $31.27 on Thursday. Neuronetics has a 12 month low of $23.95 and a 12 month high of $36.00.

Neuronetics (NASDAQ:STIM) last announced its earnings results on Tuesday, August 14th. The company reported ($30.60) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by ($29.76). The company had revenue of $13.25 million during the quarter, compared to analysts’ expectations of $12.20 million. analysts predict that Neuronetics will post -1.86 earnings per share for the current year.

In other Neuronetics news, Director Wilfred E. Jaeger purchased 6,667 shares of the firm’s stock in a transaction on Monday, July 2nd. The shares were purchased at an average price of $17.00 per share, for a total transaction of $113,339.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Guthrie purchased 1,500 shares of the firm’s stock in a transaction on Monday, July 2nd. The stock was acquired at an average price of $17.00 per share, for a total transaction of $25,500.00. The disclosure for this purchase can be found here.

A number of institutional investors have recently bought and sold shares of the business. Granahan Investment Management Inc. MA acquired a new position in Neuronetics in the second quarter worth approximately $266,000. Millennium Management LLC acquired a new position in Neuronetics in the second quarter worth approximately $1,197,000. Orbimed Advisors LLC acquired a new position in Neuronetics in the second quarter worth approximately $3,992,000. Waddell & Reed Financial Inc. acquired a new position in Neuronetics in the second quarter worth approximately $5,322,000. Finally, Redmile Group LLC acquired a new position in Neuronetics in the second quarter worth approximately $7,983,000. Hedge funds and other institutional investors own 13.20% of the company’s stock.

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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