BTIG Research Reiterates “Buy” Rating for Neuronetics (STIM)

BTIG Research restated their buy rating on shares of Neuronetics (NASDAQ:STIM) in a report issued on Wednesday. The firm currently has a $33.00 price target on the stock.

“$33 PT Q3 revenue topped our estimate on both system sales and treatment sessions. Based on a number of conversations with investors, we sensed there was some concern heading into Q3 on what mix might look like (capital vs. procedure sales) and the overall sequential ramp but we feel results in the quarter confirm our view that sales expansion continues to bear fruit. On that initiative, mgmt added 4 more territories in Q3, fairly consistent with our expectations. Additionally, progress towards Japan reimbursement remains on-track with a decision on reimbursement expected in December and formal commencement in March. Until Japan commercialization begins, mgmt highlighted active preparation efforts as well as the strong level of interest among treating docs. Overall, Q3 results were strong, in our view.”,” the firm’s analyst wrote.

A number of other research analysts have also issued reports on STIM. Canaccord Genuity began coverage on shares of Neuronetics in a research note on Tuesday, July 24th. They issued a buy rating and a $33.00 target price on the stock. Piper Jaffray Companies began coverage on shares of Neuronetics in a research note on Monday, July 23rd. They issued an overweight rating on the stock. JMP Securities began coverage on shares of Neuronetics in a research note on Monday, July 23rd. They issued a $26.02 rating and a $36.00 target price on the stock. Finally, William Blair began coverage on shares of Neuronetics in a research note on Monday, July 23rd. They issued an outperform rating on the stock. Six equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and a consensus price target of $34.50.

Shares of STIM traded down $0.70 during mid-day trading on Wednesday, hitting $24.75. 78,786 shares of the company’s stock were exchanged, compared to its average volume of 103,428. Neuronetics has a twelve month low of $20.70 and a twelve month high of $39.39. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.59 and a current ratio of 7.63.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings results on Tuesday, November 6th. The company reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.11. The business had revenue of $13.74 million for the quarter, compared to analyst estimates of $12.68 million. Analysts expect that Neuronetics will post -1.98 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Polaris Venture Management Co. V L.L.C. acquired a new position in Neuronetics in the 2nd quarter valued at $21,947,000. BlackRock Inc. boosted its holdings in Neuronetics by 16,237.6% in the 3rd 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. FMR LLC bought a new stake in Neuronetics in the 2nd quarter valued at $10,169,000. Wells Fargo & Company MN boosted its holdings in Neuronetics by 19.5% in the 3rd quarter. Wells Fargo & Company MN now owns 347,223 shares of the company’s stock valued at $11,131,000 after purchasing an additional 56,583 shares during the period. Finally, Jennison Associates LLC bought a new stake in Neuronetics in the 2nd quarter valued at $8,642,000. Institutional investors and hedge funds own 60.76% of the company’s stock.

Neuronetics Company Profile

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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