ClearPoint Neuro (NASDAQ:CLPT) Price Target Raised to $20.00

ClearPoint Neuro (NASDAQ:CLPT) had its target price hoisted by B. Riley from $15.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s target price would suggest a potential upside of 12.20% from the stock’s previous close.

Separately, Lake Street Capital increased their target price on ClearPoint Neuro from $17.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st.

ClearPoint Neuro Stock Performance

ClearPoint Neuro stock traded up $0.83 during mid-day trading on Tuesday, reaching $17.83. 105,704 shares of the company were exchanged, compared to its average volume of 227,764. ClearPoint Neuro has a twelve month low of $5.11 and a twelve month high of $19.00. The firm’s 50-day simple moving average is $14.73 and its two-hundred day simple moving average is $12.23. The firm has a market cap of $491.61 million, a PE ratio of -25.81 and a beta of 1.01.

ClearPoint Neuro (NASDAQ:CLPT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). ClearPoint Neuro had a negative return on equity of 62.10% and a negative net margin of 59.64%. The company had revenue of $8.12 million for the quarter, compared to analyst estimates of $8.07 million. During the same period in the previous year, the business posted ($0.20) earnings per share. As a group, equities research analysts anticipate that ClearPoint Neuro will post -0.66 EPS for the current year.

Hedge Funds Weigh In On ClearPoint Neuro

Several hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC increased its position in ClearPoint Neuro by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 463,853 shares of the company’s stock worth $5,200,000 after buying an additional 1,267 shares in the last quarter. Geode Capital Management LLC increased its position in ClearPoint Neuro by 1.5% during the third quarter. Geode Capital Management LLC now owns 287,294 shares of the company’s stock worth $3,222,000 after buying an additional 4,170 shares in the last quarter. Renaissance Technologies LLC increased its position in ClearPoint Neuro by 562.6% during the second quarter. Renaissance Technologies LLC now owns 169,700 shares of the company’s stock worth $915,000 after buying an additional 144,088 shares in the last quarter. Conway Capital Management Inc. increased its position in ClearPoint Neuro by 13.9% during the fourth quarter. Conway Capital Management Inc. now owns 161,225 shares of the company’s stock worth $2,480,000 after buying an additional 19,725 shares in the last quarter. Finally, Parsons Capital Management Inc. RI increased its position in ClearPoint Neuro by 1.9% during the fourth quarter. Parsons Capital Management Inc. RI now owns 141,573 shares of the company’s stock worth $2,177,000 after buying an additional 2,600 shares in the last quarter. 30.08% of the stock is owned by hedge funds and other institutional investors.

About ClearPoint Neuro

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.