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Neuronetics (NASDAQ:STIM) Stock, Option Chain

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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GBNHF

Neuronetics, Inc. (NASDAQ: STIM) recently announced a definitive agreement with Greenbrook TMS Inc. (OTC: GBNHF) to acquire its outstanding common shares in an all-stock transaction.

Neuronetics Inks a New Merger Agreement With Greenbrook

Neuronetics Inc

Stimcell Energetics Inc

STIMCELL ENERGETICS INC by Stimcell Energetics, Inc.

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<li>LogicMark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGMK#NASDAQ">LGMK</a>) stock rose 61.6% to $0.21 during Tuesday's pre-market session. The company's market cap stands at $2.5 million. As per the news, the Q3 earnings report came out today. </li>
<li>CERo Therapeutics Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERO#NASDAQ">CERO</a>) shares increased by 46.12% to $0.29. The market value of their outstanding shares is at $43.0 million. </li>
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<h3>Losers</h3>
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<li>Heron Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRTX#NASDAQ">HRTX</a>) stock decreased by 40.2% to $1.1 during Tuesday's pre-market session. The market value of their outstanding shares is at $166.8 million. As per the press release, Q3 earnings came out today. </li>
<li>Neurogene (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NGNE#NASDAQ">NGNE</a>) stock decreased by 31.36% to $49.1. The company's market cap stands at $728.0 million. </li>
<li>Neuronetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) shares declined by 27.28% to $0.8. The market value of their outstanding shares is at $24.2 million. The company's, Q3 earnings came out today. </li>
<li>Rockwell Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMTI#NASDAQ">RMTI</a>) shares decreased by 25.81% to $3.45. The market value of their outstanding shares is at $107.0 million. The company's, Q3 earnings came out today. </li>
<li>Syndax Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDX#NASDAQ">SNDX</a>) stock fell 25.3% to $16.27. The market value of their outstanding shares is at $1.3 billion. </li>
<li>Quantum-Si (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QSI#NASDAQ">QSI</a>) shares declined by 18.4% to $0.82. The market value of their outstanding shares is at $116.1 million. As per the press release, Q3 earnings came out today. 
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Neuronetics shares are trading lower after the company reported worse-than-expected Q3 financial result and cut its FY24 sales guidance. Also, the company issued Q4 sales guidance below estimates.

Neuronetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) reported quarterly losses of $(0.44) per share which missed the analyst consensus estimate of $(0.23) by 91.3 percent. This is a 33.33 percent decrease over losses of $(0.33) per share from the same period last year. The company reported quarterly sales of $18.53 million which missed the analyst consensus estimate of $19.13 million by 3.14 percent. This is a 3.61 percent increase over sales of $17.88 million the same period last year.

Earnings Misses

Neuronetics Q3 EPS $(0.44) Misses $(0.23) Estimate, Sales $18.53M Miss $19.13M Estimate

Neuronetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) sees Q4 sales of $19.000 million-20.000 million vs $24.90 million estimate.

Guidance

Neuronetics Sees Q4 Sales $19.000M-$20.000M vs $24.90M Est

Neuronetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) lowers FY2024 sales outlook from $78.00 million-80.00 million to $71.00 million-72.00 million.

Neuronetics Lowers FY2024 Sales Guidance from $78.00M-80.00M to $71.00M-72.00M

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Earnings Scheduled For November 12, 2024

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").

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.
 &nbsp;

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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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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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

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>

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.
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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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Equities

Eurozone

Commodities

AILE

GNLN

RILY

RVNC

SBUX

TRNR

Gold Gains Over 1%; Starbucks Shares Move Higher

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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Health Care

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.
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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.
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MNDY

Dow Dips 150 Points; Monday.com Posts Upbeat Earnings

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.

Neuronetics and Greenbrook TMS get interim order for merger

07:25 EST Neuronetics (STIM) sees Q4 revenue $19M-$20M, consensus $24.9M Published first on TheFly – the ultimate source for real-time, market-movi...

Neuronetics sees Q4 revenue $19M-$20M, consensus $24.9M

For the full year 2024, on a stand alone basis the Company now expects total worldwide revenue to be between $71.0 million and $72.0 million. For t...

Neuronetics sees FY24 revenue $71M-$72M, consensus $77.92M

On November 8, 2024, Neuronetics (STIM)' stockholders approved the previously announced acquisition of Greenbrook TMS in which Neuronetics will acq...

Neuronetics stockholders approve acquisition of Greenbrook TMS

Neuronetics misses top-line and bottom-line estimates; initiates Q4 and updates FY24 outlook

Neuronetics, Inc. (STIM) Q3 2024 Earnings Call Transcript

Neuronetics ( ($STIM) ) has released its Q3 earnings. Here is a breakdown of the information Neuronetics presented to its investors. Neuronetics, I...

Neuronetics Reports Growth and Strategic Acquisition

Neuronetics (STIM) has disclosed a new risk, in the Share Price & Shareholder Rights category. Neuronetics faces a critical business risk due to it...

Neuronetics Faces Nasdaq Delisting Risk: Can It Meet the $1.00 Bid Price Requirement?

JMP Securities analyst Daniel Stauder reiterated a Buy rating on Neuronetics (STIM – Research Report) today and set a price target of $3.00. Daniel...

Neuronetics' Strategic Merger with Greenbrook TMS: A Buy Rating Amidst Revenue Challenges and Anticipated Synergies

Neuronetics ( ($STIM) ) just unveiled an announcement. Neuronetics, Inc. announced the successful acquisition of Greenbrook TMS Inc., consolidating...

Neuronetics Expands with Greenbrook TMS Acquisition

Press Releases

Neuronetics and Greenbrook TMS Announce Receipt of Interim Order in Respect of Proposed Arrangement and Provide Details of Shareholder Meetings

NeuroStar® Oral Presentation at AACAP 2024 Highlights Largest Study Evaluating TMS Efficacy in Adolescents with Depression

Neuronetics to Report Third Quarter 2024 Financial and Operating Results and Host Conference Call

Neuronetics Reports Record Third Quarter 2024 Financial and Operating Results

Neuronetics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

CORRECTION—Neuronetics Reports Record Third Quarter 2024 Financial and Operating Results

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