B. Riley Issues Positive Forecast for ClearPoint Neuro (NASDAQ:CLPT) Stock Price

ClearPoint Neuro (NASDAQ:CLPT) had its price objective boosted by analysts at B. Riley from $15.00 to $20.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective would indicate a potential upside of 12.42% from the company’s current price.

Separately, Lake Street Capital raised their price target on shares of ClearPoint Neuro from $17.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st.

ClearPoint Neuro Stock Down 0.8 %

Shares of CLPT stock opened at $17.79 on Tuesday. ClearPoint Neuro has a twelve month low of $5.11 and a twelve month high of $19.00. The stock’s fifty day simple moving average is $15.01 and its 200 day simple moving average is $12.34. The firm has a market capitalization of $490.65 million, a P/E ratio of -25.78 and a beta of 1.01.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). ClearPoint Neuro had a negative return on equity of 62.10% and a negative net margin of 59.64%. The firm had revenue of $8.12 million for the quarter, compared to the consensus estimate of $8.07 million. During the same quarter last year, the firm posted ($0.20) earnings per share. As a group, equities research analysts expect that ClearPoint Neuro will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On ClearPoint Neuro

Hedge funds have recently made changes to their positions in the stock. Conway Capital Management Inc. bought a new stake in ClearPoint Neuro in the third quarter valued at approximately $1,586,000. Squarepoint Ops LLC acquired a new position in shares of ClearPoint Neuro in the 2nd quarter worth approximately $549,000. Renaissance Technologies LLC boosted its stake in shares of ClearPoint Neuro by 562.6% in the 2nd quarter. Renaissance Technologies LLC now owns 169,700 shares of the company’s stock valued at $915,000 after purchasing an additional 144,088 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of ClearPoint Neuro during the second quarter worth $419,000. Finally, Oppenheimer & Co. Inc. bought a new position in ClearPoint Neuro during the third quarter worth $156,000. 30.08% of the stock is currently owned by institutional investors.

ClearPoint Neuro Company Profile

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.