Neurometrix (NURO) Lifted to Buy at Zacks Investment Research

Neurometrix (NASDAQ:NURO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, reports. The firm currently has a $1.00 price target on the medical device company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 22.76% from the stock’s previous close.

According to Zacks, “Neurometrix is a medical device company establishing a new standard of care through the design, development and sale of proprietary products used to diagnose neuropathies. Neuropathies are diseases of the peripheral nerves and parts of the spine that frequently are caused by or associated with diabetes, low back pain and carpal tunnel syndrome, as well as other clinical disorders. “

A number of other research analysts have also recently issued reports on NURO. ValuEngine cut Neurometrix from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Neurometrix in a report on Friday.

Neurometrix stock opened at $0.81 on Friday. Neurometrix has a 12-month low of $0.60 and a 12-month high of $1.77. The stock has a market capitalization of $6.42 million, a P/E ratio of 5.82 and a beta of 0.66.

Neurometrix (NASDAQ:NURO) last released its quarterly earnings results on Thursday, April 25th. The medical device company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.30. Neurometrix had a return on equity of 12.02% and a net margin of 6.36%. The business had revenue of $3.12 million during the quarter, compared to analysts’ expectations of $3.92 million. On average, research analysts predict that Neurometrix will post -0.41 EPS for the current fiscal year.

A hedge fund recently raised its stake in Neurometrix stock. Renaissance Technologies LLC lifted its holdings in Neurometrix Inc (NASDAQ:NURO) by 55.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,615 shares of the medical device company’s stock after buying an additional 75,932 shares during the quarter. Renaissance Technologies LLC owned about 2.90% of Neurometrix worth $284,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.52% of the company’s stock.

About Neurometrix

NeuroMetrix, Inc, a healthcare company, develops and markets products for the detection, diagnosis, and monitoring of peripheral nerve and spinal cord disorders. The company develops wearable neuro-stimulation therapeutic devices and point-of-care neuropathy diagnostic tests to address chronic health conditions, including chronic pain, sleep disorders, and diabetes.

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