Canaccord lowered the firm’s price target on Neuronetics to $7.00 from $9.00 and keeps a Buy rating on the shares. The analyst said they reported a strong Q4 but much lower-than-expected 2023 guidance due to operational challenges of its biggest customer, Greenbrook TMS. We believe Greenbrook could overhang the stock for a quarter or two until clarity is gained on the overall impact it will have on the company’s business longer-term.
Published first on TheFly
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Read More on STIM:
- Neuronetics Reports Record Fourth Quarter and Record Full Year 2022 Financial and Operating Results
- Neuronetics sees FY23 revenue $66M-$72M, consensus $73.51M
- Neuronetics reports Q4 EPS (30c), consensus (38c)
- Neuronetics Announces TMS Coverage Criteria Changes for Over 23 Million Covered Lives
- Neuronetics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
