ClearPoint Neuro, Inc. (NASDAQ:CLPT – Free Report) – Research analysts at B. Riley lowered their Q3 2023 EPS estimates for ClearPoint Neuro in a report released on Wednesday, August 9th. B. Riley analyst N. Chatterji now expects that the company will earn ($0.25) per share for the quarter, down from their prior forecast of ($0.15). The consensus estimate for ClearPoint Neuro’s current full-year earnings is ($0.70) per share. B. Riley also issued estimates for ClearPoint Neuro’s Q4 2023 earnings at ($0.23) EPS and FY2023 earnings at ($1.00) EPS.
Separately, Lake Street Capital decreased their price target on shares of ClearPoint Neuro from $22.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday.
ClearPoint Neuro Price Performance
ClearPoint Neuro stock opened at $5.97 on Friday. The company has a market cap of $147.10 million, a price-to-earnings ratio of -7.02 and a beta of 1.13. The firm’s fifty day moving average is $6.75 and its 200 day moving average is $8.14. The company has a quick ratio of 5.98, a current ratio of 6.56 and a debt-to-equity ratio of 0.36. ClearPoint Neuro has a 52-week low of $5.92 and a 52-week high of $16.89.
ClearPoint Neuro (NASDAQ:CLPT – Get Free Report) last released its quarterly earnings results on Thursday, May 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.05). The business had revenue of $5.43 million for the quarter, compared to analysts’ expectations of $5.21 million. ClearPoint Neuro had a negative net margin of 96.00% and a negative return on equity of 60.94%.
Institutional Investors Weigh In On ClearPoint Neuro
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of ClearPoint Neuro by 234.3% in the second quarter. BlackRock Inc. now owns 1,373,776 shares of the company’s stock valued at $9,946,000 after acquiring an additional 962,892 shares during the period. Vanguard Group Inc. raised its stake in shares of ClearPoint Neuro by 16.7% in the first quarter. Vanguard Group Inc. now owns 1,080,656 shares of the company’s stock valued at $11,249,000 after acquiring an additional 154,867 shares during the period. Geode Capital Management LLC raised its stake in shares of ClearPoint Neuro by 92.3% in the second quarter. Geode Capital Management LLC now owns 427,807 shares of the company’s stock valued at $3,097,000 after acquiring an additional 205,334 shares during the period. Brown Advisory Inc. raised its stake in shares of ClearPoint Neuro by 1.5% in the first quarter. Brown Advisory Inc. now owns 333,615 shares of the company’s stock valued at $2,816,000 after acquiring an additional 5,000 shares during the period. Finally, State Street Corp raised its stake in shares of ClearPoint Neuro by 0.7% in the first quarter. State Street Corp now owns 303,335 shares of the company’s stock valued at $3,158,000 after acquiring an additional 2,125 shares during the period. Hedge funds and other institutional investors own 18.49% of the company’s stock.
ClearPoint Neuro Company Profile
ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. The company develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under direct, and intra-procedural magnetic resonance imaging (MRI) guidance. It offers ClearPoint system for the insertion of deep brain stimulation electrodes and biopsy needles, and the infusion of pharmaceuticals and laser catheters into the brain.
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