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Neuronetics

STIM · NASDAQ

$1.98+$0.07 (+3.66%)TodayMarket closed ·
Prev close $1.91

STIM analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.
  • Strong buy0
  • Buy3
  • Hold0
  • Underperform0
  • Sell0

12-month price target · 6 analysts

Average $5.86 (+196.2% upside)

Low
$5.05
Now
$1.98
High
$7.35

Upgrades and downgrades

The latest rating actions, newest first

STIM analyst upgrades, downgrades and rating actions
FirmDateActionRating
BTIGSep 17, 2026MaintainsBuy
B. Riley SecuritiesSep 11, 2026InitiatesBuy
BTIGSep 9, 2026MaintainsBuy
BTIGAug 11, 2026MaintainsBuy
BTIGJul 20, 2026InitiatesBuy
Canaccord GenuityMar 19, 2026MaintainsBuy

The case for and against

Updated Oct 15, 2026

Bull case

Neuronetics is benefiting from a transformed, vertically integrated model after the December 2024 Greenbrook TMS acquisition, which added 92 company-operated centers and expanded the business beyond a pure-play device maker. Revenue momentum is improving, with Q2 2026 total revenue of $41.6M, Greenbrook up 17% year over year to $26.9M, gross margin at 51.1%, and adjusted EBITDA turning positive at $0.3M, while operating expenses fell 12% year over year. Its positive outlook also rests on a larger interventional psychiatry opportunity: 85 of 92 clinics are REMS-certified for SPRAVATO, roughly 40%-50% of capacity remains available, and the planned 2027 launch of COMP360 could deepen referral flow and utilization with limited added capex.

Bear case

Neuronetics is a structurally challenged commercial-stage medical technology company whose cash generation remains weak, with Q2 cash of $25.0M and only $1.4M of cash used in operations and investing still pointing to continued reliance on external financing. Its reduced full-year CFO+I guidance of -$10.5M to -$14.5M and lowered operating expense range of $95M-$100M suggest cost discipline, but they also highlight a business that is still struggling to convert revenue into durable profitability. The bearish outlook is further driven by execution and demand risks—especially inconsistent commercial execution, slowing procedure volumes, competition, pricing pressure, regulatory delays, and funding needs—despite management’s efforts to improve margins through higher clinic occupancy and a better capital-sales mix.

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