ClearPoint Neuro (NASDAQ:CLPT) Sets New 12-Month High – Time to Buy?

ClearPoint Neuro, Inc. (NASDAQ:CLPT)’s share price reached a new 52-week high on Thursday . The stock traded as high as $19.22 and last traded at $18.58, with a volume of 16118 shares trading hands. The stock had previously closed at $18.80.

Analyst Ratings Changes

CLPT has been the topic of several research analyst reports. Lake Street Capital increased their price objective on ClearPoint Neuro from $17.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. B. Riley increased their price target on ClearPoint Neuro from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th.

ClearPoint Neuro Price Performance

The company’s fifty day moving average is $15.62 and its 200-day moving average is $12.71. The company has a market capitalization of $516.71 million, a PE ratio of -27.15 and a beta of 1.03.

ClearPoint Neuro (NASDAQ:CLPT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $8.07 million. During the same quarter last year, the company earned ($0.20) earnings per share. Equities research analysts forecast that ClearPoint Neuro, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Trading of ClearPoint Neuro

Institutional investors have recently modified their holdings of the company. Conway Capital Management Inc. acquired a new stake in ClearPoint Neuro in the third quarter valued at approximately $1,586,000. Squarepoint Ops LLC purchased a new stake in shares of ClearPoint Neuro during the 2nd quarter valued at $549,000. Cubist Systematic Strategies LLC acquired a new stake in shares of ClearPoint Neuro in the 2nd quarter worth $419,000. Oppenheimer & Co. Inc. purchased a new position in ClearPoint Neuro during the 3rd quarter worth $156,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in ClearPoint Neuro in the third quarter valued at about $541,000. 30.08% of the stock is currently owned by 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.