NeuroMetrix Inc. (NURO) Given a $4.50 Price Target at Rodman & Renshaw

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NeuroMetrix Inc. (NASDAQ:NURO) has been given a $4.50 price target by equities researchers at Rodman & Renshaw in a report released on Sunday. The brokerage currently has a a “buy” rating on the medical device company’s stock. Rodman & Renshaw’s price target would indicate a potential upside of 214.69% from the stock’s previous close.
Separately, Zacks Investment Research lowered shares of NeuroMetrix from a “hold” rating to a “sell” rating in a research report on Wednesday, August 31st.
Shares of NeuroMetrix (NASDAQ:NURO) remained flat at $1.43 during midday trading on Friday. 69,781 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $1.51 and its 200 day moving average price is $1.68. The stock’s market capitalization is $7.32 million. NeuroMetrix has a one year low of $1.35 and a one year high of $3.80.

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NeuroMetrix (NASDAQ:NURO) last announced its earnings results on Thursday, July 21st. The medical device company reported ($5.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by $4.44. NeuroMetrix had a negative net margin of 145.17% and a negative return on equity of 136.95%. The company had revenue of $2.65 million for the quarter, compared to the consensus estimate of $1.22 million. Analysts forecast that NeuroMetrix will post ($6.65) EPS for the current fiscal year.
A hedge fund recently raised its stake in NeuroMetrix stock. Renaissance Technologies LLC increased its position in shares of NeuroMetrix Inc. (NASDAQ:NURO) by 57.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,700 shares of the medical device company’s stock after buying an additional 21,000 shares during the period. Renaissance Technologies LLC owned about 1.43% of NeuroMetrix worth $106,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 8.62% of the company’s stock.
About NeuroMetrix
NeuroMetrix, Inc (NeuroMetrix) is a health-care company that develops wearable medical technology and point-of-care tests that help patients and physicians manage chronic pain, nerve diseases and sleep disorders. The Company operates through the sale of medical equipment and consumables segment. Its products are sold in the United States and selected overseas markets.

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