Piper ‘strongly’ recommends buying shares of Neuronetics

After hosting investor meetings with management, Piper Jaffray analyst Matt O’Brien “strongly” encourages investors to buy shares of Neuronetics. He reiterates an Overweight rating on the name with a $35 price target. The analyst does not believe any other transcranial magnetic stimulation provider or other therapies will disrupt the company’s ability “to grow at a robust rate going forward.” One interesting part of the model that has been missed by investors is the return by responding patients to get second and third courses of TMS therapy, O’Brien tells investors in a research note. He believes this could add millions of dollars of treatment session revenue in coming years.

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