Zacks Investment Research Downgrades Greenbrook TMS (NASDAQ:GBNH) to Sell

Zacks Investment Research cut shares of Greenbrook TMS (NASDAQ:GBNH) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Greenbrook TMS Inc. is a provider of Transcranial Magnetic Stimulation therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, principally in the United States. Greenbrook TMS Inc. is based in TORONTO. “

Several other equities research analysts also recently issued reports on the company. Desjardins dropped their target price on Greenbrook TMS from C$20.00 to C$18.50 and set a buy rating on the stock in a research report on Tuesday, November 23rd. Lake Street Capital assumed coverage on Greenbrook TMS in a research report on Tuesday, October 5th. They issued a buy rating and a $17.00 price objective on the stock. Bloom Burton reiterated a buy rating and issued a $16.00 price objective on shares of Greenbrook TMS in a research report on Tuesday, October 5th. Stifel Nicolaus lowered their price objective on Greenbrook TMS from C$22.00 to C$19.00 and set a buy rating on the stock in a research report on Thursday, November 11th. Finally, lowered their price objective on Greenbrook TMS from C$20.00 to C$18.50 and set a buy rating on the stock in a research report on Thursday, November 11th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $18.79.

NASDAQ:GBNH opened at $3.83 on Tuesday. The stock’s fifty day moving average price is $5.33 and its two-hundred day moving average price is $8.43. Greenbrook TMS has a 1 year low of $3.00 and a 1 year high of $17.55. The company has a debt-to-equity ratio of 1.59, a quick ratio of 2.25 and a current ratio of 2.25.

Greenbrook TMS (NASDAQ:GBNH) last posted its earnings results on Tuesday, November 9th. The company reported ($0.22) earnings per share (EPS) for the quarter. The company had revenue of $13.13 million for the quarter, compared to analysts’ expectations of $14.10 million. Greenbrook TMS had a negative return on equity of 278.24% and a negative net margin of 55.87%. On average, analysts expect that Greenbrook TMS will post -1.59 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in Greenbrook TMS by 243.1% during the third quarter. Royal Bank of Canada now owns 6,848 shares of the company’s stock valued at $51,000 after purchasing an additional 4,852 shares in the last quarter. AdvisorShares Investments LLC purchased a new stake in Greenbrook TMS during the third quarter valued at about $103,000. Rockefeller Capital Management L.P. purchased a new stake in Greenbrook TMS during the third quarter valued at about $109,000. Masters Capital Management LLC purchased a new stake in Greenbrook TMS during the second quarter valued at about $3,025,000. Finally, AWM Investment Company Inc. purchased a new stake in Greenbrook TMS during the second quarter valued at about $7,412,000. Institutional investors and hedge funds own 16.38% of the company’s stock.

Greenbrook TMS Company Profile

Greenbrook Tms, Inc engages in the provision of transcranial magnetic stimulation, an FDA-cleared, non-invasive therapy for the treatment of major depressive disorder. The company was founded on February 9, 2018 and is headquartered in Toronto, Canada.

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Analyst Recommendations for Greenbrook TMS (NASDAQ:GBNH)

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