Lake Street Capital Issues Positive Forecast for ClearPoint Neuro (NASDAQ:CLPT) Stock Price

ClearPoint Neuro (NASDAQ:CLPT) had its price objective boosted by Lake Street Capital from $17.00 to $30.00 in a research note issued to investors on Tuesday,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

ClearPoint Neuro Stock Performance

CLPT stock opened at $18.42 on Tuesday. ClearPoint Neuro has a 52-week low of $5.11 and a 52-week high of $19.00. The company has a market capitalization of $508.02 million, a P/E ratio of -26.70 and a beta of 1.01. The company has a fifty day moving average price of $14.20 and a 200-day moving average price of $11.92.

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

Institutional Investors Weigh In On ClearPoint Neuro

Institutional investors have recently modified their holdings of the company. Conway Capital Management Inc. lifted its holdings in ClearPoint Neuro by 13.9% in the fourth quarter. Conway Capital Management Inc. now owns 161,225 shares of the company’s stock valued at $2,480,000 after buying an additional 19,725 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of ClearPoint Neuro by 58.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,770 shares of the company’s stock valued at $110,000 after purchasing an additional 3,612 shares during the period. Barclays PLC boosted its position in shares of ClearPoint Neuro by 24.3% during the 3rd quarter. Barclays PLC now owns 5,674 shares of the company’s stock valued at $64,000 after purchasing an additional 1,109 shares in the last quarter. Geode Capital Management LLC grew its stake 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 purchasing an additional 4,170 shares during the period. Finally, XTX Topco Ltd increased its holdings in ClearPoint Neuro by 53.0% in the third quarter. XTX Topco Ltd now owns 19,900 shares of the company’s stock worth $223,000 after purchasing an additional 6,890 shares in the last quarter. 30.08% of the stock is owned by 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.