Neuronetics last night announced Japanese reimbursement approval, ahead of second half of 2019 expectations, Piper Jaffray analyst Matt O’Brien tells investors in a research note. The announcement was “certainly a favorable update” as the company can now go after a large new market opportunity, says the analyst. After speaking with management, O’Brien says the revenue contributions from this new market opportunity should become more meaningful in 2020, and represents “pure upside” to his model. The analyst recommends investors start or build positions in Neuronetics and reiterates an Overweight rating on the stock with a $28 price target.
https://thefly.com/landingPageNews.php?id=2885315
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