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

ClearPoint Neuro (NASDAQ:CLPT) had its target price upped by Lake Street Capital from $17.00 to $30.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

ClearPoint Neuro Trading Down 0.8 %

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

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). ClearPoint Neuro had a negative return on equity of 62.10% and a negative net margin of 59.64%. The company had revenue of $8.12 million for the quarter, compared to analyst estimates of $8.07 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. On average, equities research analysts predict that ClearPoint Neuro will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On ClearPoint Neuro

Hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC raised its stake in ClearPoint Neuro by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 463,853 shares of the company’s stock valued at $5,200,000 after acquiring an additional 1,267 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ClearPoint Neuro by 1.5% in the third quarter. Geode Capital Management LLC now owns 287,294 shares of the company’s stock valued at $3,222,000 after purchasing an additional 4,170 shares during the period. Renaissance Technologies LLC increased its holdings in shares of 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 purchasing an additional 144,088 shares during the period. Conway Capital Management Inc. raised its stake in shares of ClearPoint Neuro by 13.9% during the fourth quarter. Conway Capital Management Inc. now owns 161,225 shares of the company’s stock worth $2,480,000 after purchasing an additional 19,725 shares during the last quarter. Finally, Parsons Capital Management Inc. RI lifted its holdings in shares of ClearPoint Neuro by 1.9% during the fourth quarter. Parsons Capital Management Inc. RI now owns 141,573 shares of the company’s stock worth $2,177,000 after purchasing an additional 2,600 shares during the period. 30.08% of the stock is currently owned by hedge funds and other institutional investors.

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.