B. Riley Issues Positive Forecast for ClearPoint Neuro (NASDAQ:CLPT) Stock Price

ClearPoint Neuro (NASDAQ:CLPT) had its price objective boosted by B. Riley from $15.00 to $20.00 in a report issued on Tuesday morning,Benzinga reports. B. Riley currently has a buy rating on the stock.

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

ClearPoint Neuro Stock Up 5.5 %

NASDAQ CLPT opened at $17.94 on Tuesday. The stock’s 50-day simple moving average is $14.87 and its two-hundred day simple moving average is $12.30. ClearPoint Neuro has a twelve month low of $5.11 and a twelve month high of $19.00. The company has a market capitalization of $494.79 million, a price-to-earnings ratio of -26.00 and a beta of 1.01.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings results 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 net margin of 59.64% and a negative return on equity of 62.10%. The firm had revenue of $8.12 million for the quarter, compared to analysts’ expectations of $8.07 million. During the same quarter in the previous year, the business earned ($0.20) EPS. On average, equities analysts expect that ClearPoint Neuro will post -0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new position in ClearPoint Neuro during the 2nd quarter valued at about $32,000. R Squared Ltd purchased a new position in ClearPoint Neuro during the 4th quarter valued at about $32,000. Barclays PLC increased its holdings in 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 during the period. XTX Topco Ltd increased its holdings in ClearPoint Neuro by 11.6% during the 2nd quarter. XTX Topco Ltd now owns 13,010 shares of the company’s stock valued at $70,000 after purchasing an additional 1,353 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in ClearPoint Neuro by 58.7% during 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. 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.