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

ClearPoint Neuro (NASDAQ:CLPT) had its price objective hoisted by B. Riley from $15.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective indicates a potential upside of 12.20% from the company’s previous close.

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

ClearPoint Neuro Trading Up 4.9 %

NASDAQ CLPT traded up $0.83 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 fifty-two week low of $5.11 and a fifty-two week high of $19.00. The business’s fifty day moving average price is $14.73 and its 200 day moving average price is $12.23. The stock has a market capitalization of $491.61 million, a P/E 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 (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). ClearPoint Neuro had a negative net margin of 59.64% and a negative return on equity of 62.10%. The firm had revenue of $8.12 million during the quarter, compared to analysts’ expectations of $8.07 million. During the same quarter in the prior year, the firm posted ($0.20) EPS. Equities research analysts forecast that ClearPoint Neuro will post -0.66 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Conway Capital Management Inc. acquired a new position in shares of ClearPoint Neuro during the 3rd quarter worth about $1,586,000. Squarepoint Ops LLC acquired a new position in shares of ClearPoint Neuro during the 2nd quarter worth about $549,000. Renaissance Technologies LLC boosted its position in shares of ClearPoint Neuro by 562.6% in the 2nd quarter. Renaissance Technologies LLC now owns 169,700 shares of the company’s stock valued at $915,000 after purchasing an additional 144,088 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of ClearPoint Neuro in the 2nd quarter valued at about $419,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of ClearPoint Neuro in the 3rd quarter valued at about $156,000. 30.08% of the stock is owned by institutional investors and hedge funds.

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.