NeuroPace, Inc. (NASDAQ:NPCE) Given Consensus Recommendation of “Moderate Buy” by Analysts

NeuroPace, Inc. (NASDAQ:NPCE) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $18.50.

A number of research firms have issued reports on NPCE. Leerink Partners reiterated an “outperform” rating and issued a $19.00 price objective on shares of NeuroPace in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NeuroPace in a research note on Monday, December 15th. JPMorgan Chase & Co. boosted their price objective on shares of NeuroPace from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Wells Fargo & Company upped their price objective on shares of NeuroPace from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, UBS Group lifted their target price on shares of NeuroPace from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, December 16th.

NeuroPace Stock Down 1.1%

NPCE stock opened at $16.02 on Monday. The stock has a fifty day moving average of $14.07 and a 200-day moving average of $11.32. NeuroPace has a fifty-two week low of $7.56 and a fifty-two week high of $18.98. The company has a market capitalization of $533.63 million, a price-to-earnings ratio of -21.08 and a beta of 1.85. The company has a debt-to-equity ratio of 3.17, a quick ratio of 3.94 and a current ratio of 4.86.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. The business had revenue of $27.35 million during the quarter, compared to analyst estimates of $24.64 million. NeuroPace had a negative net margin of 25.28% and a negative return on equity of 136.60%. As a group, equities research analysts predict that NeuroPace will post -1 earnings per share for the current year.

Hedge Funds Weigh In On NeuroPace

Several hedge funds and other institutional investors have recently bought and sold shares of NPCE. Ameritas Investment Partners Inc. grew its position in shares of NeuroPace by 83.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company’s stock valued at $27,000 after purchasing an additional 1,118 shares in the last quarter. Legal & General Group Plc increased its stake in NeuroPace by 86.0% in the 2nd quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock worth $30,000 after acquiring an additional 1,239 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of NeuroPace during the 2nd quarter worth approximately $35,000. Quarry LP boosted its position in shares of NeuroPace by 94.9% during the 3rd quarter. Quarry LP now owns 3,845 shares of the company’s stock valued at $40,000 after acquiring an additional 1,872 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in shares of NeuroPace by 72.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,371 shares of the company’s stock valued at $71,000 after acquiring an additional 2,668 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

About NeuroPace

NeuroPace, Inc is a medical device company based in Mountain View, California, that develops innovative neuromodulation systems for the treatment of neurological disorders. Founded in the late 1990s out of research at Stanford University, the company’s mission centers on delivering closed-loop, “smart” therapies that monitor and respond to electrical activity in the brain. In 2020, NeuroPace completed its initial public offering and now trades on the NASDAQ under the ticker NPCE.

The company’s flagship product, the RNS® System, is an implantable device designed for adults with medically refractory focal epilepsy.