On May 26, 2023, Neuronetics, a leading medical technology company, made an exciting announcement. BlueCross BlueShield (BCBS) of Michigan has expanded eligibility for depression patients to receive transcranial magnetic stimulation (TMS). This policy change is a game-changer for patients seeking relief from depression, as it reduces the number of antidepressant medication attempts from four down to two prior to TMS treatment eligibility.
The BCBS policy update is a significant step forward in expanding coverage to TMS Therapy. Neuronetics is the only TMS company in the industry with a dedicated health policy team that partners with both providers and payers to advocate for health policy changes. This dedication to improving patient access to TMS Therapy is commendable and sets Neuronetics apart from its competitors.
BCBS of Michigan is the largest payer in the state, covering over 5.6 million lives. This expansion of eligibility for TMS Therapy will benefit countless individuals struggling with depression. The clinical criteria for TMS treatment in Michigan can be found on the BCBS website.
It’s important to note that insurance policies and benefits for TMS Therapy vary greatly between health insurance providers. However, with this recent policy change from BCBS of Michigan, it’s possible that other health insurance providers will follow suit and expand eligibility for TMS Therapy. This is an exciting development for the mental health community and a step in the right direction towards improving patient access to innovative treatments.
STIM Stock Analysis: Positive Earnings and Revenue Growth, but Negative Net Profit Margin
On May 26, 2023, STIM stock opened at 2.82, slightly higher than the previous close of 2.78. The day’s range was between 2.80 and 2.85, with a volume of 1,808 shares traded. The market capitalization of STIM is $78.1M. The company had a negative earnings growth of -12.83% last year, but this year, it has shown a positive growth of +3.16%. On the revenue side, STIM had a positive growth of +17.89% last year. The company’s price-to-sales ratio is 2.83, and the price-to-book ratio is 1.31. STIM’s net profit margin is -56.99%. STIM’s next reporting date is August 8, 2023, and the EPS forecast for this quarter is -$0.35. The company’s annual revenue for last year was $65.2M, and it had a net loss of -$37.2M.
Neuronetics Inc Stock Predicted to Increase by 150% in Next 12 Months: Companys Focus on Non-Invasive Treatments for Psychiatric Disorders Positions Them Well in Growing Mental Health Market
On May 26, Neuronetics Inc (STIM) stock had a median price target of $7.00, with a high estimate of $12.00 and a low estimate of $7.00, according to three analysts offering 12-month price forecasts. This represents a significant increase of 150% from the last price of $2.80. Furthermore, the current consensus among four polled investment analysts is to buy stock in Neuronetics Inc.
Neuronetics Inc is a medical technology company that specializes in developing non-invasive treatments for psychiatric disorders such as depression. Their flagship product is the NeuroStar Advanced Therapy System, which is an FDA-approved device that uses transcranial magnetic stimulation (TMS) to treat major depressive disorder.
Neuronetics Inc reported earnings per share of -$0.35 and sales of $17.4 million. The reporting date for this quarter is set for August 08, 2023.
Overall, the future looks promising for Neuronetics Inc, with analysts predicting a significant increase in stock price over the next 12 months. The company’s focus on developing innovative and non-invasive treatments for psychiatric disorders positions them well in the growing mental health market. Investors who are interested in the healthcare sector may want to consider adding Neuronetics Inc to their portfolio.
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