Neuronetics (NASDAQ:STIM) Price Target Raised to $8.00

Neuronetics (NASDAQ:STIM) had its price objective boosted by Canaccord Genuity Group from $5.00 to $8.00 in a report issued on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Neuronetics Stock Up 7.1 %

STIM stock opened at $5.42 on Wednesday. Neuronetics has a twelve month low of $0.52 and a twelve month high of $5.92. The company has a current ratio of 3.16, a quick ratio of 2.87 and a debt-to-equity ratio of 4.90. The company has a market capitalization of $164.49 million, a P/E ratio of -4.41 and a beta of 2.07. The firm has a 50 day simple moving average of $2.98 and a 200-day simple moving average of $1.67.

Insider Transactions at Neuronetics

In other Neuronetics news, EVP William Andrew Macan sold 12,175 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $3.83, for a total transaction of $46,630.25. Following the completion of the sale, the executive vice president now owns 388,647 shares in the company, valued at $1,488,518.01. The trade was a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Keith J. Sullivan sold 40,992 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $3.28, for a total transaction of $134,453.76. Following the sale, the chief executive officer now owns 1,283,362 shares of the company’s stock, valued at approximately $4,209,427.36. The trade was a 3.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,125 shares of company stock valued at $348,876. 9.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Neuronetics

Institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its stake in Neuronetics by 55.5% during the third quarter. HighTower Advisors LLC now owns 245,982 shares of the company’s stock valued at $187,000 after purchasing an additional 87,816 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Neuronetics by 64.5% during the third quarter. GSA Capital Partners LLP now owns 78,642 shares of the company’s stock valued at $60,000 after acquiring an additional 30,837 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of Neuronetics during the third quarter valued at $53,000. Balyasny Asset Management L.P. boosted its holdings in shares of Neuronetics by 29.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,481,771 shares of the company’s stock valued at $2,386,000 after acquiring an additional 337,539 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Neuronetics by 10,954.1% during the fourth quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company’s stock valued at $88,000 after acquiring an additional 54,442 shares during the period. Institutional investors own 53.59% of the company’s stock.

Neuronetics Company Profile

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder.