BTIG Remains a Buy on Neuronetics (STIM)

BTIG analyst Marie Thibault maintained a Buy rating on Neuronetics (STIMResearch Report) today and set a price target of $19.00. The company’s shares closed last Tuesday at $7.80.

According to TipRanks.com, Thibault is a 5-star analyst with an average return of 60.0% and a 66.4% success rate. Thibault covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings, Irhythm Technologies, and Edwards Lifesciences.

Neuronetics has an analyst consensus of Strong Buy, with a price target consensus of $17.33, representing a 60.5% upside. In a report released today, Piper Sandler also maintained a Buy rating on the stock with a $12.00 price target.

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Based on Neuronetics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $12.29 million and GAAP net loss of $7.88 million. In comparison, last year the company earned revenue of $11.48 million and had a GAAP net loss of $12.61 million.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STIM in relation to earlier this year.

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Neuronetics, Inc. commercial stage medical technology company. It focuses on designing, developing and marketing products for the patients suffering from psychiatric disorders. The firm offers NeuroStar TMS, a therapy system for the treatment of major depressive disorders in adult patients. It also provides a range of support services, including patient education, practice data management system, and customer and technical services to help the client start and manage TMS therapy systems. The company was founded by Steven B. Waite, Bruce J. Shook, Norman R. Weldon and Thomas D. Weldon in April 2003 and is headquartered in Malvern, PA.