Ultime notizie per Neuronetics (NASDAQ:STIM) Azioni

Neuronetics

Neuronetics Inc a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders. Its first commercial product, the NeuroStar Advanced Therapy System, is a non-invasive and non-systemic office-based treatment that uses transcranial magnetic stimulations, or TMS, to create a pulsed, MRI-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The company designed the NeuroStar Advanced Therapy as a non-invasive therapeutic alternative to treat patients who suffer from MDD and to address many of the key limitations of existing treatment options.

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Neuronetics Inc

Neuronetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) ("Neuronetics") and Greenbrook TMS Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBNHF#OTC">GBNHF</a>) ("Greenbrook") today announced that the Ontario Superior Court of Justice (Commercial List) (the "Court") has granted an interim order (the "Interim Order") in connection with the previously announced statutory plan of arrangement under section 182 of the Business Corporations Act (Ontario) (the "Plan of Arrangement"), pursuant to which, subject to the satisfaction or waiver of all applicable conditions precedent, Neuronetics will acquire all of the issued and outstanding common shares of Greenbrook ("Greenbrook Shares") in an all-stock transaction (the "Arrangement"). The Interim Order authorizes the calling and holding of a special meeting (the "Greenbrook Special Meeting") of holders of Greenbrook Shares ("Greenbrook Shareholders"), the granting of dissent rights to registered Greenbrook Shareholders and other matters relating to the conduct of the Greenbrook Special Meeting.
Subject to the terms of the Plan of Arrangement, each Greenbrook Share outstanding immediately prior to the effective time of the Arrangement (other than all Greenbrook Shares held by Greenbrook Shareholders who have validly exercised rights of dissent in respect of the Arrangement) is expected to be exchanged for 0.01149 of a share of Neuronetics common stock ("Neuronetics Shares") at the closing of the Arrangement, subject to adjustment for any interim funding by Madryn Asset Management, LP or its affiliates ("Madryn") and other customary adjustments prior to the closing of the Arrangement. Upon completion of the Arrangement, the pre-Arrangement holders of Neuronetics Shares ("Neuronetics Stockholders") and Greenbrook Shareholders are expected to own approximately 57% and 43% of the combined company, respectively, on a fully diluted basis.
On the unanimous recommendation of a special committee of the board of directors of Greenbrook (the "Greenbrook Board") consisting entirely of independent directors, the Greenbrook Board unanimously determined that the Arrangement is fair to Greenbrook Shareholders (other than Madryn) and in the best interests of Greenbrook. The Greenbrook Board unanimously recommends that the Greenbrook Shareholders vote in favour of the resolution relating to the Arrangement at the Greenbrook Special Meeting.
The board of directors of Neuronetics (the "Neuronetics Board") unanimously determined that the Arrangement is in the best interests of Neuronetics. The Neuronetics Board unanimously recommends that Neuronetics Stockholders vote in favor of the resolutions relating to the Arrangement at the special meeting of Neuronetics Stockholders (the "Neuronetics Special Meeting").

GBNHF

Neuronetics Will Acquire Greenbrook Through All-Stock Transaction; Interim Order Granted By Ontario Superior Court, Greenbrook Shareholders To Receive 0.01149 Neuronetics Shares Per Greenbrook Share, Ensuring 57% Ownership Of Combined Entity For Neuronetics' Investors; Terms Not Disclosed

Neuronetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>), a medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, announced that additional payors have updated their TMS (transcranial magnetic stimulation) coverage to reduce access barriers for patients with major depressive disorder (MDD). This expanded access allows people to receive treatment such as the Company's NeuroStar TMS Therapy earlier in their treatment regimen. &nbsp;
Effective immediately, BlueCross BlueShield (BCBS) of North Carolina has expanded its TMS policy to cover adolescents 15 years and older, based on <a href="https://www.globenewswire.com/Tracker?data=qOjmrE7PDpP0iP9SeWY9op5d18oOTSBdwoHIgNjWAn9BzTHKJw9PTdysQO-eW_OwlcEPZmltrdKKK9KXWOYbH0guJe1aSPys58MhR2z9MpsyUuVQf30nDJt9tcdg63BOk1ofdy5n2Zww3OInMUpL_Y8tJjvwaSiZUMT9EOfhJsrKFd1MjahDQJshs_0Kj9s0Pqw_JG1TwBnpdISbSaL68ADhCfPeFL9ulYxPYeNG2OU=">recent clearance</a> from the United States Food and Drug Administration (FDA) for NeuroStar as the first and only TMS treatment authorized for this population. BCBC of North Carolina policies affect more than 2.2 million covered lives. Additionally, Louisiana Medicaid has started covering TMS for adults 18 and older, effective immediately. This is the first TMS coverage policy from Louisiana Medicaid, which has a footprint of more than 1.6 million covered lives.
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Biotech

General

Neuronetics Announces That Additional Payors Have Updated Their TMS Coverage To Reduce Access Barriers For Patients With Major Depressive Disorder

NeuroStar Releases Software Upgrades NeuroStar Advanced Therapy And Proprietary TrakStar Patient Data Management Software

The Dow Jones index closed lower by more than 400 points on Friday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#8217;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Neuronetics</h3>
<ul>
<li>The Trade: Neuronetics, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) Director Glenn P Muir <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 25,000 shares</a> at an average price of $0.80. To acquire these shares, it cost around $20,000.</li>
<li>What's Happening: On Aug. 12, Neuronetics reported worse-than-expected second-quarter financial results and issued third-quarter revenue guidance below estimates.</li>
<li>What Neuronetics Does: Neuronetics Inc a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders.</li>
</ul>
<h3 class="wp-block-heading">ConnectM Technology Solutions</h3>
<ul>
<li>The Trade: ConnectM Technology Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTM#NASDAQ">CNTM</a>) Mahesh Choudhury &lt;a href=&#8221;https://www.benzinga.com/sec/insider-trades/&#8221;&gt;&lt;em&gt; acquired a total of 69,542 shares at &lt;/em&gt;&lt;/a&gt; at an average price of $0.89. To acquire these shares, it cost around $61,892.</li>
<li>What's Happening: On Aug. 13, ConnectM Technology Solutions posted a second-quarter loss of 39 cents per share.</li>
<li>What ConnectM Technology Solutions Does: ConnectM Technology Solutions Inc is a clean energy technology and solutions provider.</li>
</ul>
<h3 class="wp-block-heading">Retractable Technologies</h3>
<ul>
<li>The Trade: Retractable Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVP#NYSE">RVP</a>) President and CEO Thomas J Shaw <a href="https://www.benzinga.com/sec/insider-trades/">acquired a total of 5,251 shares</a> at an average price of $0.91. The insider spent around $4,799 to buy those shares.</li>
<li>What's Happening: On Aug. 14, Retractable Technologies posted a wider quarterly loss.</li>
<li>What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession. </li>
</ul>
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Retractable Technologies And 2 Other Penny Stocks Executives Are Buying

The Dow Jones index closed higher by more than 200 points on Friday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#8217;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Hydrofarm Holdings Group</h3>
<ul>
<li>The Trade: Hydrofarm Holdings Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYFM#NASDAQ">HYFM</a>) Director, CEO and Chairman of the Board William Douglas Toler <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 100,000 shares</a> at an average price of $0.50. To acquire these shares, it cost around $49,800.</li>
<li>What's Happening: On Aug. 8, Hydrofarm Holdings Group reported $54.8 million in net revenue for the second quarter representing a 13.1% year-over-year decrease from $63.1 million.</li>
<li>What Hydrofarm Holdings Group Does: Hydrofarm Holdings Group Inc is a distributor and manufacturer of agriculture equipment and supplies.</li>
</ul>
<h3 class="wp-block-heading">Neuronetics</h3>
<ul>
<li>The Trade: Neuronetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) Director Glenn P Muir acquired a total of 25,000 shares at an average price of $0.85. To acquire these shares, it cost around $21,250.</li>
<li>What's Happening: On Aug. 12, Neuronetics reported worse-than-expected second-quarter financial results and issued third-quarter revenue guidance below estimates.</li>
<li>What Neuronetics Does: Neuronetics Inc a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders.</li>
</ul>
<h3 class="wp-block-heading">Butterfly Network</h3>
<ul>
<li>The Trade: Butterfly Network, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>) Director Larry Robbins <a href="https://www.benzinga.com/sec/insider-trades/">acquired a total of 1,676,869 shares</a> at an average price of $1.00. The insider spent around $1.68 million to buy those shares.</li>
<li>What's Happening: On Aug. 28, ENDRA Life Sciences announced it was granted an extension to regain Nasdaq compliance status.</li>
<li>What Butterfly Network Does: Butterfly Network Inc is a digital health business transforming care with handheld, whole-body ultrasound.</li>
</ul>
<h3 class="wp-block-heading">Castellum</h3>
<ul>
<li>The Trade: Castellum, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTM#NYSE">CTM</a>) General Counsel, Secretary Jay O Wright acquired a total of 61,597 shares at an average price of $0.16. The insider spent around $10,102 to buy those shares.</li>
<li>What's Happening: On Aug. 9, Castellum posted second-quarter revenue of $11.5 million.</li>
<li>What Castellum Does: Castellum Inc is engaged in providing information technology services.</li>
</ul>
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Butterfly Network And 3 Other Stocks Under $2 Executives Are Aggressively Buying

JMP Securities analyst David Turkaly maintains Neuronetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) with a Market Outperform and lowers the price target from $7 to $3.

Price Target

Analyst Ratings

JMP Securities Maintains Market Outperform on Neuronetics, Lowers Price Target to $3

Neuronetics, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stim#NASDAQ">STIM</a>) recently announced a definitive agreement with Greenbrook TMS Inc.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/gbnhf#OTC">GBNHF</a>) to acquire its outstanding common shares in an all-stock transaction.
Following the merger&#39;s completion, Greenbrook will be able to improve its existing sites to provide the benefits of NeuroStar to any practice across the country. It will do so using Neuronetics&#39; innovative NeuroStar platform as well as its education and training expertise.
The merger agreement will help Neuronetics strengthen its position in the mental health market. The agreement provides the company with multiple strategic benefits. It also offers compelling financial benefits for both entities under the agreement.
<h3>Financial Details</h3>
Per the terms of the deal, Neuronetics shareholders will hold approximately 57% of the combined company, and Greenbrook shareholders will own approximately 43% on a fully diluted basis. As of the date of the Definitive Agreement, each Greenbrook share is expected to be exchanged for 0.01149 shares of Neuronetics common stock at the closing of the transaction, subject to adjustment for any interim period funding by Madryn and other customary adjustments prior to the closing (based on the terms of the agreement). An aggregate of 25,304,971 Neuronetics shares will be issued to Greenbrook shareholders in connection with the transaction.
<h3>Rationale Behind the Acquisition</h3>
The merger is aimed at driving significant increase in awareness of NeuroStar among patients, caregivers and providers. Under centralized management, Neuronetics can better operationalize NeuroStar TMS best practices across Greenbrook sites nationwide.
The agreement also offers financial benefits for the combined company, including expected mid-teens year-over-year revenue growth in fiscal 2025 and 2026, improved balance sheet to execute long-term growth strategy as well as accelerated path for profitability. Through marketing expenditure optimization as well as back office functions, the combined company is expected to realize at least $15 million of annualized cost savings, the majority of which will be realized in fiscal 2025.
<h3>More on the News</h3>
Before the completion of the transaction, all of Greenbrook&#39;s existing credit facility and subordinated convertible debt will be converted into Greenbrook common shares.
The transaction has been unanimously approved by the board of directors of both companies.
The transaction is expected to be closed during the fourth quarter of 2024, subject to approval by both companies&#39; shareholders, court approval in respect of the plan of arrangement as well as other customary closing conditions. After the transaction is closed, Neuronetics intends to delist the common shares of Greenbrook from the OTCQB.
<h3>Industry Prospects</h3>
Per a report&nbsp;from Skyquest, the global Mental Health market was valued at $399.6 billion in 2022 and is expected to reach $544.6 billion by 2031, at a CAGR of 3.5%. The primary factors influencing the global market include the increasing prevalence of mental health disorders worldwide and advancements in technology and research, which have led to the development of innovative treatment options. The growing awareness and acceptance of mental health issues also contribute to the market&#39;s growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/6f/74181.jpg?v=35416620" />
Image Source: Zacks Investment Research
Looking at the market potential, Neuronetics&#39; latest acquisition is strategically well-timed.
<h3>Other Notable Developments</h3>
In July 2024, Neuronetics launched the Better Me Provider (&quot;BMP&quot;) program, which is a part of the company&#39;s Neurostar product line. This latest development should help STIM to meet new standards and improve treatment accessibility within the mental health industry.
Earlier this year, Neuronetics announced the FDA clearance of NeuroStar Advanced Therapy for usage as a supplement to treat MDD in adolescents aged between 15 and 21 years. NeuroStar is the first and only FDA-approved transcranial magnetic stimulation treatment available for this age group.
In March 2024, Neuronetics entered into an expanded commercial partnership with Transformations Care Network (&quot;TCN&quot;), a mental health care provider. The company will supply new TMS equipment to TCN. This partnership marks a significant advancement in the field of mental health treatment, particularly for those suffering from MDD and treatment-resistant depression.
<h3>Price Performance</h3>
In the past year, STIM&#39;s shares have lost 57.1% against the industry&#39;s 5.5% growth.
<h3>Zacks Rank and Key Picks</h3>
Neuronetics currently carries a Zacks Rank #3 (Hold).&nbsp;
Some better-ranked stocks in the broader medical space are Intuitive Surgical, TransMedics Group and Quest Diagnostics. While Intuitive Surgical and TransMedics sport a Zacks Rank #1 (Strong Buy) each, Quest Diagnostics carries a Zacks Rank #2 (Buy).
Intuitive Surgical&#39;s shares have surged 52.6% in the past year. Estimates for the company&#39;s earnings have moved north 5.1% to $1.65 per share for 2024 in the past 30 days.
ISRG&#39;s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 8.97%. In the last reported quarter, it posted an earnings surprise of 16.34%.
Estimates for TransMedics&#39; 2024 EPS have moved up 83.3% to 22 cents in the past 30 days. Shares of the company have soared 160.4% in the past year compared with the industry&#39;s 5.5% growth.
TMDX&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for Quest Diagnostics&#39; 2024 EPS have decreased 0.4% to $2.28 in the past 30 days. In the past year, shares of HAE have risen 11.3% compared with the industry&#39;s 15.4% growth.
In the last reported quarter, DGX delivered an earnings surprise of 1.73%. The company has a trailing four-quarter average earnings surprise of 3.31%.
<a href="https://www.zacks.com/stock/news/2321579/neuronetics-stim-inks-a-new-merger-agreement-with-greenbrook?cid=CS-BENZ-FT-analyst_blog|company_news_medical_sector-2321579">To read this article on Zacks.com click here.</a>

Earnings

Earnings Beats

Small Cap

Tech

Neuronetics Inks a New Merger Agreement With Greenbrook

Canaccord Genuity analyst William Plovanic maintains Neuronetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) with a Buy and lowers the price target from $6 to $3.

Canaccord Genuity Maintains Buy on Neuronetics, Lowers Price Target to $3

William Blair analyst Margaret Kaczor downgrades Neuronetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) from Outperform to Market Perform.

Downgrades

William Blair Downgrades Neuronetics to Market Perform

U.S. stocks traded mixed toward the end of trading, with the S&amp;P 500 edging higher on Monday.
The Dow traded down 0.47% to 39,310.03 while the NASDAQ rose 0.17% to 16,773.12. The S&amp;P 500 also fell, dropping, 0.08% to5,339.84.
Leading and Lagging Sectors Information technology shares climbed by 1% on Monday.
In trading on Monday, real estate shares fell 1.1%.
Top Headline
Starbucks Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) shares gained around 2% on Monday following a report suggesting activist investor interest is brewing.
According to a Wall Street Journal report citing people familiar with the matter, activist investor Starboard Value has taken a stake in Starbucks and wants the coffee giant to focus on boosting its stock price.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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<li>Greenlane Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares shot up 218% to $7.95 after the company announced that it has entered into a non-binding letter of intent to be the exclusive distributor in the U.S, of Safety Strips, fentanyl, xylazine and drink spike detection test strips.</li>
<li>Shares of Revance Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVNC#NASDAQ">RVNC</a>) got a boost, surging 86% to $6.57 after the company entered into a merger agreement with Crown Laboratories.</li>
<li>Interactive Strength Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNR#NASDAQ">TRNR</a>) shares were also up, gaining 63% to $0.5651 after the company received a letter stating that the Nasdaq Hearings Panel granted its request for continued listing on the Nasdaq Stock Market.</li>
</ul>
Equities Trading DOWN
<ul>
<li>B. Riley Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>) shares dropped 53% to $8.02 after the company reported preliminary second-quarter financial results.</li>
<li>Shares of Neuronetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) were down 55% to $0.79 after the company reported worse-than-expected second-quarter financial results and issued third-quarter revenue guidance below estimates. Also, the company announced it will acquire Greenbrook TMS in an all-stock transaction.</li>
<li>iLearningEngines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AILE#NASDAQ">AILE</a>) was down, falling 47% to $3.0450. iLearningEngines will report financial results for the second quarter before the opening bell on Tuesday, Aug. 13.</li>
</ul>
Commodities In commodity news, oil traded up 2.8% to $79.02 while gold traded up 1.3% at $2,504.40.
Silver traded up 1.4% to $27.965 on Monday, while copper rose 1.8% to $4.0645.
Euro zone
European shares closed mostly higher today. The eurozone's STOXX 600 fell 0.02%, Germany's DAX rose 0.02% and France's CAC 40 fell 0.26%. Spain's IBEX 35 Index rose 0.07%, while London's FTSE 100 rose 0.52%.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Hong Kong's Hang Seng Index gaining 0.13%, China's Shanghai Composite Index falling 0.14% and S&amp;P BSE Sensex falling 0.07%.
Economics
U.S. consumer inflation expectations for the year ahead came in unchanged at 3% for July.
The U.S. government budget deficit increased to $244 billion in July compared to a $220.7 billion gap recorded in the yera-ago month.
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On Monday, Neuronetics&nbsp;Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>), a provider of noninvasive treatments for psychiatric disorders, agreed to acquire Greenbrook TMS Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBNHF#OTC">GBNHF</a>) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40309491/neuronetics-and-greenbrook-tms-announce-definitive-agreement-to-merge" rel="noreferrer noopener">in an all-stock transaction</a>.
In fiscal year 2023, the combined company&#8217;s pro forma revenue would have been approximately $145 million, effectively doubling the scale of the stand-alone businesses.
Additionally, the combined company expects mid-teens year-over-year revenue growth in fiscal years 2025 and 2026.
Through optimizing marketing spend and back office functions, the combined company expects to realize at least $15 million of annualized cost savings, most of which will be realized in fiscal year 2025.
Due to expected revenue growth and the realization of cost synergies, the combined company anticipates being Adjusted EBITDA positive and cash flow positive for the full fiscal year 2025, excluding one-time costs related to the transaction.
Neuronetics&#8217; executive management team will continue with the combined company.
Following the closing of the transaction, Neuronetics shareholders will own approximately 57% of the combined company, and Greenbrook shareholders will own approximately 43%.
Each Greenbrook share is expected to be exchanged for 0.01149 shares of Neuronetics stock.
The agreement provides for mutual termination fees of $1.9 million.
Neuronetics&nbsp;reported second-quarter revenues of $16.5 million, a decrease of 7% year over year, missing the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $18.65 million</a>.
Total U.S. revenue decreased by 7% during the quarter, and international revenue remained materially consistent over the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40309386/neuronetics-reports-record-second-quarter-2024-financial-and-operating-results" rel="noreferrer noopener">second quarter of 2023</a>. The decrease in U.S. revenue was primarily attributable to a decrease in U.S. treatment sessions and U.S. NeuroStar Advanced Therapy System sales.
U.S. NeuroStar Advanced Therapy system revenue reached $4 million in the quarter, representing 50 systems.
U.S. treatment session revenue decreased by 5% year over year due to lower treatment sessions. The decline was primarily due to the company&#8217;s customers facing cash flow difficulties stemming from the Change Health cyberattack.
In the second quarter of 2024, U.S. treatment session revenue per active site was $10,000 compared to $11,392 in the second quarter of 2023.
The company reported EPS loss of $0.33, missing the consensus loss of $0.27.
Guidance: Neuronetics forecasts third-quarter revenue of $18.5 million-$19.5 million versus consensus of $20.12 million.
For 2024, the company expects sales of $78 million-$80 million <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">compared to a consensus of $79.15 million.</a>
Price Action: STIM stock is down 55.5% at $0.79 at last check Monday.
Photo via Shutterstock
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Guidance

Health Care

Movers

Noninvasive Treatment Provider Neuronetics Agrees To Merge With Canadian Firm Greenbrook TMS; Reports Q2 Earnings And Guidance Below Expectations

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining around 0.2% on Monday.
The Dow traded down 0.39% to 39,341.75 while the NASDAQ rose 0.19% to 16,777.09. The S&amp;P 500 also fell, dropping, 0.02% to 5,342.9.
Leading and Lagging Sectors Information technology shares climbed by 1% on Monday.
In trading on Monday, real estate shares fell 1.1%.
Top Headline 
KE Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NASDAQ">BEKE</a>) reported better-than-expected second-quarter financial results and increased its repurchase authorization.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Greenlane Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares shot up 220% to $8.17 after the company announced that it has entered into a non-binding letter of intent to be the exclusive distributor in the U.S, of Safety Strips, fentanyl, xylazine and drink spike detection test strips.</li>
<li>Shares of Revance Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVNC#NASDAQ">RVNC</a>) got a boost, surging 86% to $6.57 after the company entered into a merger agreement with Crown Laboratories.</li>
<li>Interactive Strength Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNR#NASDAQ">TRNR</a>) shares were also up, gaining 58% to $0.55 after the company received a letter stating that the Nasdaq Hearings Panel granted its request for continued listing on the Nasdaq Stock Market.</li>
</ul>
Equities Trading DOWN
<ul>
<li>B. Riley Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>) shares dropped 56% to $7.52 after the company reported preliminary second-quarter financial results.</li>
<li>Shares of Neuronetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) were down 55% to $0.79 after the company reported worse-than-expected second-quarter financial results and issued third-quarter revenue guidance below estimates. Also, the company announced it will acquire Greenbrook TMS in an all-stock transaction.</li>
<li>iLearningEngines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AILE#NASDAQ">AILE</a>) was down, falling 40% to $3.46. iLearningEngines will report financial results for the second quarter before the opening bell on Tuesday, Aug. 13.</li>
</ul>
Commodities In commodity news, oil traded up 2.2% to $78.55 while gold traded up 0.9% at $2,494.40.
Silver traded up 1% to $27.845 on Monday, while copper rose 1.9% to $4.0685.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 fell 0.02%, Germany's DAX rose 0.02% and France's CAC 40 fell 0.26%. Spain's IBEX 35 Index rose 0.07%, while London's FTSE 100 rose 0.52%.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Hong Kong's Hang Seng Index gaining 0.13%, China's Shanghai Composite Index falling 0.14% and S&amp;P BSE Sensex falling 0.07%.
Economics
The US government budget report will be released today.
Now Read This: 
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<li><a href="https://www.benzinga.com/news/24/08/40312954/this-robinhood-analyst-turns-bullish-here-are-top-5-upgrades-for-monday">This Robinhood Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday</a></li>
</ul>

BEKE

Crude Oil Surges 2%; B. Riley Financial Shares Plunge

U.S. stocks traded lower this morning, with the Dow Jones index falling around 150 points on Monday.
The Dow traded down 0.39% to 39,344.36 while the NASDAQ fell 0.15% to 16,719.45. The S&amp;P 500 also fell, dropping, 0.24% to 5,331.60.
Leading and Lagging Sectors Information technology shares climbed by 0.9% on Monday.
In trading on Monday, real estate shares fell 0.6%.
Top Headline 
Monday.com Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) reported better-than-expected earnings for its fiscal second quarter.
The company posted revenue growth of 34% Y/Y to $236.1 million, beating the analyst consensus estimate of $228.8 million. The project management software company's adjusted EPS of 94 cents beat the analyst consensus estimate of 56 cents.
Monday.com expects third-quarter revenue of $243 million–$247 million (versus the consensus of $243.05 million) and adjusted operating margin of 8%–9%. Monday.com expects 2024 revenue guidance of $956 million—$961 million (prior $942 million—$948 million) against the consensus of $947.79 million and an adjusted operating margin of 10%—11% (prior 8%—9%).
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Greenlane Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares shot up 243% to $8.59 after the company announced a non-binding letter of intent to be the exclusive distributor in the U.S. of Safety Strips, Inc.&#8217;s Fentanyl, Xylazine and Drink Spike Detection Test Strips.</li>
<li>Shares of Revance Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVNC#NASDAQ">RVNC</a>) got a boost, surging 85% to $6.53 after the company entered into a merger agreement with Crown Laboratories.</li>
<li>Interactive Strength Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNR#NASDAQ">TRNR</a>) shares were also up, gaining 75% to $0.6126 after the company received a letter stating that the Nasdaq Hearings Panel granted its request for continued listing on the Nasdaq Stock Market.</li>
</ul>
Equities Trading DOWN
<ul>
<li>B. Riley Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>) shares dropped 49% to $8.66 after the company reported preliminary second-quarter financial results.</li>
<li>Shares of Neuronetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) were down 46% to $0.9608 after the company reported worse-than-expected second-quarter financial results and issued third-quarter revenue guidance below estimates. Also, the company announced it will acquire Greenbrook TMS in an all-stock transaction.</li>
<li>iLearningEngines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AILE#NASDAQ">AILE</a>) was down, falling 42% to $3.35. iLearningEngines will report financial results for the second quarter before the opening bell on Tuesday, Aug. 13.</li>
</ul>
Commodities In commodity news, oil traded up 1.4% to $78.00 while gold traded up 0.6% at $2,488.20.
Silver traded up 1.2% to $27.91 on Monday, while copper rose 1.4% to $4.0495.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.1%, Germany's DAX rose 0.2% and France's CAC 40 fell 0.1%. Spain's IBEX 35 Index rose 0.1%, while London's FTSE 100 rose 0.5%.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Hong Kong's Hang Seng Index gaining 0.13%, China's Shanghai Composite Index falling 0.14% and S&amp;P BSE Sensex falling 0.07%.
Economics
The US government budget report will be released today.
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40312954/this-robinhood-analyst-turns-bullish-here-are-top-5-upgrades-for-monday">This Robinhood Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday</a> </li>
</ul>

MNDY

Dow Dips 150 Points; Monday.com Posts Upbeat Earnings

WIIM

Neuronetics shares are trading lower after the company reported worse-than-expected Q2 financial results and issued Q3 revenue guidance below estimates. Also, the company announced it will acquire Greenbrook TMS in an all-stock transaction.

For the full year 2024, the Company expects total operating expenses to be between $78.0 million and $80.0 million.

Neuronetics Forecasts Q3 revenue of $18.5M-$19.5M Versus Consensus Of $20.115M, With 2024 Sales Of $78M-$80M Compared To Consensus Of $79.15M

The transaction creates a vertically-integrated organization capable of providing access to mental health treatment with significant scale in the U.S. The transaction offers multiple strategic benefits for Neuronetics and its customers, including increased brand awareness for NeuroStar, more consistent delivery of best practices, and the ability to offer a variety of positive benefits for all NeuroStar customers. Beyond the strategic benefits, the transaction is expected to create compelling financial benefits, including increased revenue scale and a strong growth trajectory, material cost synergies, an accelerated path to profitability, and a bolstered balance sheet.
&nbsp;
&nbsp;
Beyond the strategic benefits, the transaction is expected to create compelling financial benefits, which include:
<ul>
<li>Increased Revenue Scale and Strong Growth Trajectory. In fiscal year 2023, the pro forma revenue of the combined company would have been approximately $145 million, effectively doubling the scale of the stand-alone businesses. Additionally, the combined company expects mid-teens year over year revenue growth in fiscal years 2025 and 2026.</li>
<li>Material Cost Synergies. Through the optimization of marketing spend as well as back office functions, the combined company expects to be able to realize at least $15 million of annualized cost savings, the majority of which will be realized in fiscal year 2025.</li>
<li>Accelerated Path to Profitability. Coming as a result of strong expected revenue growth and the realization of cost synergies, the combined company anticipates to be Adjusted EBITDA positive and also cash flow positive for the full fiscal year 2025, excluding one-time costs related to the transaction.</li>
<li>Bolstered Balance Sheet. As a result of the pre-transaction conversion of Greenbrook's debt into common shares, in combination with the scale of the business post-acquisition, the consolidated company will be able to leverage an improved balance sheet to execute on its long-term growth strategy.</li>
</ul>

Neuronetics Agreed To Acquire Greenbrook TMS In An All-stock Transaction

Neuronetics Q2 2024 GAAP EPS $(0.33) Misses $(0.27) Estimate, Sales $16.450M Miss $18.648M Estimate

Neuronetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>), a medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, announced that Aetna has updated its TMS (transcranial magnetic stimulation) coverage to include adolescents aged 15 and older with MDD (major depressive disorder). This expanded access follows the recent clearance from the U.S. Food and Drug Administration (FDA) for NeuroStar TMS as the first and only TMS treatment cleared as a first-line add-on for adolescents aged 15-21. &nbsp;
The coverage criteria specify that TMS treatment must be administered by an FDA-cleared device in accordance with FDA labeled indications. Aetna is one of the largest health plans in the country with over 19.4 million lives covered through its commercial policies nationwide. The <a href="https://www.globenewswire.com/Tracker?data=LEPZqKwPoQi6JGf1ieQD-b45vnTpA2NKSi-LDismGe4TdIzTpwYBLSl-mA1mKjicN4OcTNI5YTg8inmZ5Qxnd2py_Pd7UDVmWRufKi2ShsxMxxZ0ZpAUtg9OUTyKWZr1">TMS policy</a> update is effective immediately.

Neuronetics Announces Aetna Policy Update Expands TMS Availability For Adolescents With Depression

Neuronetics Announces BCBS of Michigan And Cambia Health Solutions To Broaden Access To NeuroStar TMS For Patients 15 And Older; Policy Updates Follow FDA Clearance For Adolescents With MDD

Neuronetics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stim#NASDAQ">STIM</a>) recently announced the nationwide launch of the Better Me Provider (BMP) program. The BMP program will be a part of the company&#39;s NeuroStar product line. The providers participating in the program are expected to maintain correct standards, developed in collaboration with a network of transcranial magnetic stimulation&nbsp;medical experts.
The latest development will help Neuronetics meet new standards and improve treatment accessibility within the mental health industry.
<h3>About BMP Program</h3>
Better Me Provider Program is an extensive commercial initiative to support practices committed to meeting patient care and responsiveness standards. These standards are developed in collaboration with TMS medical experts, ensuring prompt response times by a dedicated NeuroStar coordinator, who advises patients about the benefits of the entire course of NeuroStar treatment, along with optimizing websites and social media content to educate patients. It is designed to help people with major depressive disorder, obsessive-compulsive disorder, and anxious depression.
<h3>More on the News</h3>
In the initial days of the trial, the BMP program showed success by significantly increasing provider efficiency and responsiveness.
The trial result validated that the BMP program significantly accelerated patient engagement by swiftly addressing interested patients. Through advanced training of the providers and improved response time, the company is expecting to treat more patients in need of life-changing therapy.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/c6/70069.jpg?v=1098905618" /> 
Image Source: Zacks Investment Research
<h3>Industry Prospects</h3>
Per a report&nbsp;from Skyquest, the global Mental Health market was valued at $399.6 billion in 2022 and is expected to grow $544.6 billion by 2031, at a CAGR of 3.5% during the period. The primary factors influencing the global market include the increasing prevalence of mental health disorders worldwide and advancements in technology and research, which have led to the development of innovative treatment options. The growing awareness and acceptance of mental health issues also contribute to the market&#39;s growth.
Looking at the market potential, Neuronetics&#39; latest development is thoughtful and well-timed.
<h3>Other Notable Developments</h3>
Earlier this year, Neuronetics announced the FDA clearance of NeuroStar Advanced Therapy for usage as a supplement to treat MDD in adolescents aged between 15 years and 21 years. NeuroStar is the first and only FDA-approved transcranial magnetic stimulation treatment available for this age group.
In March 2024, Neuronetics entered into an expanded commercial partnership with Transformations Care Network (TCN), a mental health care provider. The company will supply new TMS equipment to TCN. This partnership marks a significant advancement in the field of mental health treatment, particularly for patients suffering from MDD and treatment-resistant depression.
<h3>Price Performance</h3>
In the past year, STIM&#39;s shares have lost 21.2% against the industry&#39;s 3.1% growth.
<h3>Zacks Rank and Key Picks</h3>
Neuronetics currently carries a Zacks Rank #3 (Hold).&nbsp;
Some better-ranked stocks in the broader medical space are Hims &amp; Hers Health, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>), The Joint Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jynt#NASDAQ">JYNT</a>) and Medpace Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/medp#NASDAQ">MEDP</a>). While Hims &amp; Hers and The Joint sport a Zacks Rank #1 (Strong Buy) each, Medpace Holdings carries a Zacks Rank #2 (Buy) at present.&nbsp;
The Hims &amp; Hers Heath stock has surged 135.1% in the past year. Estimates for the company&#39;s 2024 earnings have moved north by 5.6% to 19 cents per share in the past 30 days.
HIMS&#39; earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%.
Estimates for The Joint&#39;s 2024 earnings per share have remained constant at 21 cents in the past 30 days. Shares of JYNT have surged 37.4% year to date against the industry&#39;s 3.6% decline.
In the last reported quarter, JYNT delivered an earnings surprise of 300%. It has a trailing four-quarter average earnings surprise of 18.75%.
Estimates for Medpace&#39;s 2024 EPS have remained unchanged at $11.29 in the past 30 days. Shares of the company have surged 70.4% in the past year compared with the industry&#39;s 5.3% growth.
MEDP&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 12.8%. In the last reported quarter, it delivered an earnings surprise of 30.6%.
<a href="https://www.zacks.com/stock/news/2296194/neuronetics-stim-expands-neurostar-portfolio-with-new-launch?cid=CS-BENZ-FT-analyst_blog|company_news_medical_sector-2296194">To read this article on Zacks.com click here.</a>

Hims & Hers Health, Inc. Class A Common Stock

HIMS

JYNT

MEDP

Neuronetics Expands NeuroStar Portfolio With New Launch

Neuronetics, Inc. 2024 Q2 - Results - Earnings Call Presentation

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Neuronetics (NASDAQ:<a href="https://investorplace.com/stock-quotes/stim-stock-quote/">STIM</a>) just reported results for the second quarter of 2024.<ul><li>Neuronetics reported earnings per share of -33 cents. This was below the analyst estimate for EPS of -27 cents.</li><li>The company reported revenue of $16.45 million.</li><li>This was 11.80% worse than the analyst estimate for revenue of $18.65 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/stim-stock-earnings-neuronetics-for-q2-of-2024/">STIM Stock Earnings: Neuronetics Misses EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

STIM Stock Earnings: Neuronetics Misses EPS, Misses Revenue for Q2 2024

Neuronetics, Inc. (STIM) Q2 2024 Earnings Call Transcript

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Neuronetics: A Strong Buy on Merger Synergies and Strategic Growth Initiatives

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Neuronetics Merger with Greenbrook TMS: A Path to Profitability and Market Expansion

Neuronetics (STIM) just unveiled an update. Neuronetics, Inc. is set to hold a virtual event on August 15, 2024, discussing a potential merger with...

Neuronetics Virtual Event to Discuss Greenbrook Merger Risks

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Neuronetics Outlines Greenbrook Acquisition Prospects and Risks

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