NeuroPace (NASDAQ:NPCE) Receives Overweight Rating from Cantor Fitzgerald

NeuroPace (NASDAQ:NPCE)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a note issued to investors on Thursday, Benzinga reports. They currently have a $18.00 price objective on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 103.16% from the company’s previous close.

NPCE has been the topic of several other reports. Wells Fargo & Company raised NeuroPace from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $16.00 to $20.00 in a research report on Thursday, March 14th. SVB Leerink assumed coverage on NeuroPace in a research report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price objective on the stock. Morgan Stanley raised their target price on NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of NeuroPace in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.67.

NeuroPace Stock Down 29.7 %

NPCE traded down $3.74 during trading on Thursday, reaching $8.86. The stock had a trading volume of 165,694 shares, compared to its average volume of 103,792. The stock’s 50 day moving average is $13.75 and its two-hundred day moving average is $12.02. The company has a current ratio of 5.71, a quick ratio of 5.02 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $254.46 million, a price-to-earnings ratio of -7.22 and a beta of 2.06. NeuroPace has a one year low of $3.80 and a one year high of $18.15.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.10. The business had revenue of $18.01 million during the quarter, compared to the consensus estimate of $17.74 million. NeuroPace had a negative return on equity of 153.76% and a negative net margin of 50.38%. As a group, analysts expect that NeuroPace will post -1.14 earnings per share for the current year.

Insider Activity at NeuroPace

In related news, major shareholder Orbimed Advisors Llc sold 461,899 shares of NeuroPace stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $14.49, for a total transaction of $6,692,916.51. Following the sale, the insider now owns 3,542,068 shares of the company’s stock, valued at approximately $51,324,565.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 525,345 shares of company stock valued at $7,583,250. 27.50% of the stock is owned by company insiders.

Institutional Trading of NeuroPace

A number of large investors have recently added to or reduced their stakes in the company. Citigroup Inc. bought a new stake in NeuroPace in the 3rd quarter worth approximately $29,000. Barclays PLC increased its stake in NeuroPace by 9,085.6% in the 3rd quarter. Barclays PLC now owns 10,839 shares of the company’s stock worth $105,000 after acquiring an additional 10,721 shares during the last quarter. Kent Lake Capital LLC increased its stake in NeuroPace by 16.8% in the 4th quarter. Kent Lake Capital LLC now owns 670,946 shares of the company’s stock worth $6,917,000 after acquiring an additional 96,529 shares during the last quarter. Finally, EAM Investors LLC bought a new stake in NeuroPace in the 3rd quarter worth approximately $1,378,000. Institutional investors own 78.83% of the company’s stock.

About NeuroPace

NeuroPace, Inc operates as a medical device company in the United States. The company develops RNS system, a brain-responsive neuromodulation system that delivers personalized, real-time treatment at the seizure source for treating medically refractory focal epilepsy. It also records continuous brain activity data and enables clinicians to monitor patients in person and remotely.