B. Riley Boosts ClearPoint Neuro (NASDAQ:CLPT) Price Target to $20.00

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) had its price target increased by stock analysts at B. Riley from $15.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley's price target would indicate a potential upside of 14.55% from the stock's current price.

Separately, Lake Street Capital upped their price objective on shares of 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 Trading Down 0.9 %

Shares of ClearPoint Neuro stock traded down $0.15 during trading hours on Tuesday, reaching $17.46. The stock had a trading volume of 211,020 shares, compared to its average volume of 225,637. The stock's 50 day moving average is $15.14 and its 200 day moving average is $12.37. The firm has a market capitalization of $481.63 million, a PE ratio of -25.30 and a beta of 1.01. ClearPoint Neuro has a twelve month low of $5.11 and a twelve month high of $19.00.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.01). The company 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 in the prior year, the firm earned ($0.20) EPS. As a group, sell-side analysts predict that ClearPoint Neuro will post -0.66 earnings per share for the current year.

Institutional Investors Weigh In On ClearPoint Neuro

A number of hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in shares of ClearPoint Neuro in the 4th quarter valued at approximately $32,000. Barclays PLC grew its position in ClearPoint Neuro by 24.3% during the 3rd quarter. Barclays PLC now owns 5,674 shares of the company's stock worth $64,000 after purchasing an additional 1,109 shares during the last quarter. Point72 DIFC Ltd purchased a new position in ClearPoint Neuro during the 2nd quarter worth $32,000. JPMorgan Chase & Co. lifted its stake in shares of ClearPoint Neuro by 58.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,770 shares of the company's stock worth $110,000 after acquiring an additional 3,612 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of ClearPoint Neuro in the 3rd quarter worth $123,000. 30.08% of the stock is currently owned by institutional investors and hedge funds.

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.