Zacks Investment Research Upgrades Neuronetics (STIM) to Buy

Neuronetics (NASDAQ:STIM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The brokerage currently has a $29.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 17.17% from the stock’s previous close.

According to Zacks, “Neuronetics, Inc. is a commercial-stage medical device company. It focused on designing, developing, and marketing products for patients who suffer from psychiatric disorders. NeuroStar Advanced Therapy System(R), is the transcranial magnetic stimulation treatment for depressive disorder. Neuronetics, Inc. is based in Malvern, United States. “

STIM has been the subject of several other research reports. William Blair initiated coverage on Neuronetics in a research report on Monday, July 23rd. They issued an “outperform” rating for the company. Piper Jaffray Companies initiated coverage on Neuronetics in a research report on Monday, July 23rd. They issued an “overweight” rating for the company. BTIG Research reiterated a “buy” rating and issued a $33.00 price target on shares of Neuronetics in a research report on Wednesday. JMP Securities initiated coverage on Neuronetics in a research report on Monday, July 23rd. They issued a “$26.02” rating and a $36.00 price target for the company. Finally, Canaccord Genuity lifted their price target on Neuronetics from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Six equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $34.50.

STIM opened at $24.75 on Friday. Neuronetics has a 12 month low of $20.70 and a 12 month high of $39.39. The company has a current ratio of 7.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.33.

Neuronetics (NASDAQ:STIM) last released 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 company had revenue of $13.74 million during the quarter, compared to analysts’ expectations of $12.68 million. On average, equities research analysts anticipate that Neuronetics will post -1.98 EPS for the current year.

Several large investors have recently made changes to their positions in the business. Alpine Woods Capital Investors LLC boosted its position in shares of Neuronetics by 40.0% during the third quarter. Alpine Woods Capital Investors LLC now owns 14,000 shares of the company’s stock valued at $449,000 after buying an additional 4,000 shares during the period. American International Group Inc. purchased a new position in shares of Neuronetics during the third quarter valued at approximately $136,000. Victory Capital Management Inc. purchased a new position in shares of Neuronetics during the second quarter valued at approximately $133,000. Pier Capital LLC purchased a new position in shares of Neuronetics during the second quarter valued at approximately $186,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Neuronetics during the third quarter valued at approximately $284,000. 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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