ClearPoint Neuro (NASDAQ:CLPT) Stock Price Up 8.5% – Still a Buy?

ClearPoint Neuro, Inc. (NASDAQ:CLPT)’s share price rose 8.5% during mid-day trading on Tuesday . The company traded as high as $18.30 and last traded at $18.39. Approximately 160,659 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 219,174 shares. The stock had previously closed at $16.95.

Analysts Set New Price Targets

Several brokerages have issued reports on CLPT. B. Riley lifted their target price on shares of ClearPoint Neuro from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Lake Street Capital lifted their target price 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 Stock Performance

The firm’s 50-day moving average price is $15.36 and its two-hundred day moving average price is $12.58. The stock has a market cap of $506.64 million, a price-to-earnings ratio of -26.62 and a beta of 1.03.

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The firm had revenue of $8.12 million for the quarter, compared to analyst estimates 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 in the previous year, the firm posted ($0.20) EPS. As a group, sell-side analysts expect that ClearPoint Neuro, Inc. 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 company. R Squared Ltd purchased a new stake in ClearPoint Neuro in the 4th quarter valued at about $32,000. Barclays PLC raised its holdings in ClearPoint Neuro by 24.3% in the 3rd quarter. Barclays PLC now owns 5,674 shares of the company’s stock valued at $64,000 after buying an additional 1,109 shares during the period. JPMorgan Chase & Co. raised its holdings in 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 buying an additional 3,612 shares during the period. Verition Fund Management LLC purchased a new stake in ClearPoint Neuro in the 3rd quarter valued at about $123,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in ClearPoint Neuro in the 3rd quarter valued at about $156,000. Institutional investors and hedge funds own 30.08% of the company’s stock.

ClearPoint Neuro Company Profile

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.