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Canaccord Genuity Keeps Their Buy Rating on Neuronetics (STIM)

In a report released yesterday, William Plovanic from Canaccord Genuity reiterated a Buy rating on Neuronetics (STIMResearch Report), with a price target of $9.00. The company’s shares closed last Tuesday at $4.25.

According to TipRanks.com, Plovanic is a 3-star analyst with an average return of 1.6% and a 47.1% success rate. Plovanic covers the Healthcare sector, focusing on stocks such as Merit Medical Systems, Edwards Lifesciences, and TransMedics Group.

Currently, the analyst consensus on Neuronetics is a Strong Buy with an average price target of $10.50, a 143.6% upside from current levels. In a report issued on July 19, JMP Securities also reiterated 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 $14.18 million and GAAP net loss of $10.84 million. In comparison, last year the company earned revenue of $12.29 million and had a GAAP net loss of $7.88 million.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of STIM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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