ClearPoint Neuro (NASDAQ:CLPT) Price Target Raised to $30.00

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

ClearPoint Neuro Price Performance

CLPT opened at $17.78 on Tuesday. ClearPoint Neuro has a 1-year low of $5.11 and a 1-year high of $19.00. The stock has a market cap of $490.37 million, a P/E ratio of -25.77 and a beta of 1.01. The stock’s 50 day simple moving average is $14.47 and its 200 day simple moving average is $12.00.

ClearPoint Neuro (NASDAQ:CLPT) last issued its quarterly earnings data 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). The business had revenue of $8.12 million for the quarter, compared to analysts’ expectations 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 last year, the business earned ($0.20) earnings per share. Research analysts expect that ClearPoint Neuro will post -0.66 EPS for the current fiscal year.

Institutional Trading of ClearPoint Neuro

Institutional investors and hedge funds have recently bought and sold shares of the business. Conway Capital Management Inc. acquired a new stake in ClearPoint Neuro during the 3rd quarter valued at approximately $1,586,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of ClearPoint Neuro during the second quarter worth approximately $175,000. Squarepoint Ops LLC bought a new stake in shares of ClearPoint Neuro in the second quarter worth $549,000. Renaissance Technologies LLC raised its holdings in ClearPoint Neuro by 562.6% in the second quarter. Renaissance Technologies LLC now owns 169,700 shares of the company’s stock valued at $915,000 after acquiring an additional 144,088 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in ClearPoint Neuro during the 2nd quarter valued at $419,000. Institutional investors and hedge funds 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.