UPDATE: Piper Sandler Thinks Neuronetics (STIM) Run Can Continue, PT Raised to $27

Piper Sandler analyst Matt O'Brien raised the price target on Neuronetics (NASDAQ: STIM) to $27.00 (from $20.00) while maintaining a Overweight rating on the belief that the run can continue for the following reasons:
1) the newer management team in place is a uniquely strong fit given their experience successfully running a different organization (Zeltiq) that shares a number of similarities to the game plan at STIM
2) the company should benefit from several tailwinds including an overall rise in depression and recent access wins which could bring as many as 20-40% more TRD patients to TMS.

The analyst stated "Overall, given these factors, we still view the ~40% discount on shares to peers as unwarranted, and continue to see more room for appreciation even following the big run."

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