Form 8-K Neuronetics, Inc. For: Aug 12
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Neuronetics (STIM) PT Lowered to $3 at Canaccord Genuity
August 13, 2024 6:23 AM EDTCanaccord Genuity analyst William Plovanic lowered the price target on Neuronetics (NASDAQ: STIM) to $3.00 (from $6.00) while maintaining a Buy rating.
The analyst comments "Bottom line: STIMs Q2/24 missed estimates with $16.5M of revenue, driven by low treatment session revenue as customers delayed refilling inventory due to continued prior authorization and reimbursement headwinds from Change Healthcares cybersecurity breach impacting STIMs customer base. That said, STIM reiterated its FY24 revenue guidance of $78M-$80M, displaying confidence in the... More
