B. Riley Raises ClearPoint Neuro (NASDAQ:CLPT) Price Target to $20.00

ClearPoint Neuro (NASDAQ:CLPT) had its price target boosted by analysts at B. Riley from $15.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s target price points to a potential upside of 12.42% from the stock’s previous close.

Separately, Lake Street Capital lifted their price objective on shares of 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 Trading Down 0.8 %

Shares of CLPT opened at $17.79 on Tuesday. The company’s fifty day simple moving average is $15.01 and its 200 day simple moving average is $12.34. ClearPoint Neuro has a 1-year low of $5.11 and a 1-year high of $19.00. The company has a market cap of $490.65 million, a price-to-earnings ratio of -25.78 and a beta of 1.01.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLPT. Essex Investment Management Co. LLC grew its stake 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 lifted its holdings in shares of ClearPoint Neuro by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 287,294 shares of the company’s stock worth $3,222,000 after acquiring an additional 4,170 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of ClearPoint Neuro by 562.6% during the 2nd quarter. Renaissance Technologies LLC now owns 169,700 shares of the company’s stock worth $915,000 after acquiring an additional 144,088 shares during the period. Conway Capital Management Inc. boosted its position in shares of ClearPoint Neuro by 13.9% during the 4th quarter. Conway Capital Management Inc. now owns 161,225 shares of the company’s stock worth $2,480,000 after acquiring an additional 19,725 shares in the last quarter. Finally, Parsons Capital Management Inc. RI increased its stake in ClearPoint Neuro by 1.9% in the fourth quarter. Parsons Capital Management Inc. RI now owns 141,573 shares of the company’s stock valued at $2,177,000 after acquiring an additional 2,600 shares during the last quarter. Institutional investors own 30.08% of the company’s stock.

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.