NeuroMetrix Inc. (NURO) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of NeuroMetrix Inc. (NASDAQ:NURO) from a sell rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Neurometrix is a medical device company establishing a new standard of care through the design, development and sale of proprietary products used to diagnose neuropathies. Neuropathies are diseases of the peripheral nerves and parts of the spine that frequently are caused by or associated with diabetes, low back pain and carpal tunnel syndrome, as well as other clinical disorders. “

Several other equities research analysts have also commented on NURO. Rodman & Renshaw set a $4.50 price objective on shares of NeuroMetrix and gave the stock a buy rating in a research note on Sunday, September 4th. HC Wainwright set a $4.50 price objective on shares of NeuroMetrix and gave the stock a buy rating in a research note on Thursday, September 15th.

Shares of NeuroMetrix (NASDAQ:NURO) opened at 1.59 on Tuesday. The stock’s market cap is $8.14 million. The firm has a 50-day moving average of $1.48 and a 200 day moving average of $1.68. NeuroMetrix has a 1-year low of $1.35 and a 1-year high of $3.72.

NeuroMetrix (NASDAQ:NURO) last announced its earnings results on Thursday, July 21st. The medical device company reported ($5.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by $4.44. The company had revenue of $2.65 million for the quarter, compared to the consensus estimate of $1.22 million. NeuroMetrix had a negative net margin of 145.19% and a negative return on equity of 136.94%. Equities research analysts forecast that NeuroMetrix will post ($6.65) earnings per share for the current year.

A hedge fund recently raised its stake in NeuroMetrix stock. Renaissance Technologies LLC boosted its stake in NeuroMetrix Inc. (NASDAQ:NURO) by 57.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 approximately 1.43% of NeuroMetrix worth $106,000 at the end of the most recent reporting period. 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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