Piper encourages investors to start positions in Neuronetics

After hosting an investor call with the management team of Greenbrook TMS, a domestic transcranial magnetic stimulation provider, Piper Jaffray analyst Matt O’Brien reiterates an Overweight rating on Neuronetics with a $28 price target. Greenbrook’s goal of reaching 100-plus centers by Q1 of 2020 is on track and the company expects “robust” organic growth this year with further market development efforts, O’Brien tells investors in a research note. He points out that the majority of Greenbrook’s mix is weighted towards Neuronetics’ NeuroStar. Given the “variety of positives” on Neuronetics and the underlying TMS market landscape, investors “can put to bed any competitive concerns,” says the analyst. He encourages investors to start positions in the name.

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