ClearPoint Neuro (NASDAQ:CLPT) Upgraded to “Buy” by Zacks Investment Research

Posted by on Jun 8th, 2022

ClearPoint Neuro (NASDAQ:CLPT – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The firm presently has a $12.00 price target on the stock. Zacks Investment Research‘s target price points to a potential downside of 1.36% from the company’s current price.

According to Zacks, “ClearPoint Neuro Inc. provides neurosurgery platform which includes hardware, software, clinical case and market development services for gene therapy cases principally in the United States and Europe. ClearPoint Neuro Inc., formerly known as MRI Interventions Inc., is based in Irvine, California. “

Separately, B. Riley reissued a “buy” rating on shares of ClearPoint Neuro in a research note on Monday, May 9th.

Shares of CLPT stock traded up $1.65 during trading hours on Tuesday, hitting $12.17. 251,391 shares of the company’s stock were exchanged, compared to its average volume of 221,319. The company has a quick ratio of 13.16, a current ratio of 14.60 and a debt-to-equity ratio of 0.22. The firm has a market cap of $288.41 million, a P/E ratio of -17.13 and a beta of 1.25. The firm has a 50 day moving average of $9.83 and a two-hundred day moving average of $10.02. ClearPoint Neuro has a fifty-two week low of $7.00 and a fifty-two week high of $22.80.

ClearPoint Neuro (NASDAQ:CLPT – Get Rating) last announced its earnings results on Wednesday, May 11th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.03. ClearPoint Neuro had a negative return on equity of 33.94% and a negative net margin of 91.51%. During the same quarter in the prior year, the business posted ($0.13) earnings per share. On average, equities analysts forecast that ClearPoint Neuro will post -0.72 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of ClearPoint Neuro by 1.1% in the 4th quarter. BlackRock Inc. now owns 1,176,355 shares of the company’s stock worth $13,198,000 after acquiring an additional 12,783 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of ClearPoint Neuro by 16.7% in the 1st quarter. Vanguard Group Inc. now owns 1,080,656 shares of the company’s stock worth $11,249,000 after acquiring an additional 154,867 shares during the last quarter. State Street Corp increased its stake in shares of ClearPoint Neuro by 0.7% in the 1st quarter. State Street Corp now owns 303,335 shares of the company’s stock worth $3,158,000 after acquiring an additional 2,125 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ClearPoint Neuro by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 293,492 shares of the company’s stock worth $3,292,000 after acquiring an additional 1,656 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC increased its stake in shares of ClearPoint Neuro by 3.5% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 181,329 shares of the company’s stock worth $1,888,000 after acquiring an additional 6,176 shares during the last quarter. 25.27% of the stock is owned by hedge funds and other institutional investors.

ClearPoint Neuro Company Profile (Get Rating)

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. The company develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under direct, and intra-procedural magnetic resonance imaging (MRI) guidance. It offers ClearPoint system for the insertion of deep brain stimulation electrodes and biopsy needles, and the infusion of pharmaceuticals and laser catheters into the brain; and ClearPoint Neuro Navigation System, an MRI suite.

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