JMP Securities analyst David Turkaly lowered the firm’s price target on Neuronetics to $3 from $7 and keeps an Outperform rating on the shares. Neuronetics’ Q2 reflected a top-line miss, as disruption from the Change Healthcare cybersecurity breach continued to impact the company’s capital and treatment session sales that were called out in the previous quarter, the analyst tells investors in a research note. The company also announced a definitive agreement to merge with Greenbrook TMS in an all-stock transaction, a deal that has the potential to transform the growth and profitability profiles of the company, JMP says.
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