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MALVERN, Pa. - Neuronetics, Inc. (NASDAQ:STIM) has entered into a three-year exclusive agreement with Elite DNA Behavioral Health to become the sole provider of transcranial magnetic stimulation (TMS) devices across Elite DNA’s more than 30 locations in Florida. The agreement comes as Neuronetics, with a market capitalization of approximately $192 million, has seen its stock price surge 171% over the past year according to InvestingPro data.
The partnership, announced Thursday, will leverage Neuronetics’ Greenbrook platform to provide Elite DNA with expanded fee-based operational and patient support services. These services include PHQ-10 processing, TMS consultations, and scheduling assistance.
Keith J. Sullivan, President and CEO of Neuronetics, said the collaboration expands NeuroStar’s reach through "a scalable, systemized model of care" and operationalizes a strategic value from the company’s Greenbrook acquisition.
Elizabeth Dosoretz, Founder and CEO of Elite DNA Behavioral Health, described the partnership as reflecting "a shared commitment to breaking barriers in mental health treatment."
The expanded services will utilize Greenbrook’s existing capabilities to supplement Elite DNA’s administrative operations, allowing their team to focus more on patient experience, according to the press release statement.
The partnership began with a pilot launch in the fourth quarter of 2025, with plans for expansion in 2026. Elite DNA Behavioral Health operates more than 30 locations across Florida and Virginia, offering in-person and virtual behavioral health services. Investors should note that Neuronetics has shown impressive revenue growth of 54.17% over the last twelve months, though InvestingPro analysis indicates the company is currently burning through cash and is not yet profitable.
Neuronetics develops and markets the NeuroStar Advanced Therapy System, a non-drug, noninvasive treatment for mental health conditions. The system is FDA-cleared for adults with major depressive disorder, as an adjunct for adults with obsessive-compulsive disorder, to decrease anxiety symptoms in adult patients with major depressive disorder that exhibit comorbid anxiety symptoms, and as a first-line adjunct for major depressive disorder in adolescent patients aged 15-21. With earnings scheduled for November 4, investors can access Neuronetics’ comprehensive Pro Research Report, one of 1,400+ available on InvestingPro, which transforms complex financial data into actionable intelligence for smarter investment decisions.
In other recent news, Neuronetics Inc. reported its financial results for the second quarter of 2025, revealing a larger-than-expected loss per share. The company posted an earnings per share (EPS) of -$0.15, missing the forecast of -$0.08. Despite this, Neuronetics exceeded revenue expectations, reporting $38.1 million, which surpassed the consensus forecast of $36.59 million. Canaccord Genuity responded by lowering its price target for Neuronetics to $7.00 from $8.00, citing margin concerns, but maintained a Buy rating. In related developments, over 5 million New York Medicaid members will soon gain access to Transcranial Magnetic Stimulation (TMS) therapy for major depressive disorder, starting in October. This coverage expansion is expected to benefit Neuronetics, the provider of TMS therapy. Meanwhile, Stifel raised its price target for SiTime Corporation to $324 from $240, maintaining a Buy rating. This adjustment follows SiTime’s launch of its Titan Platform, marking its entry into the $4 billion resonator market. These developments reflect recent shifts and strategic moves within the companies.
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