NeuroPace (NASDAQ:NPCE) Stock Rating Upgraded by Cantor Fitzgerald

NeuroPace (NASDAQ:NPCE) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

NPCE has been the subject of several other research reports. Leerink Partners restated an “outperform” rating and set a $19.00 price objective on shares of NeuroPace in a report on Wednesday, November 5th. HC Wainwright boosted their price target on shares of NeuroPace from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. JPMorgan Chase & Co. upped their price objective on shares of NeuroPace from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Wells Fargo & Company lifted their price objective on shares of NeuroPace from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Finally, UBS Group restated a “buy” rating on shares of NeuroPace in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NeuroPace has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

NeuroPace Stock Performance

NASDAQ:NPCE opened at $13.95 on Wednesday. The company has a quick ratio of 3.94, a current ratio of 4.86 and a debt-to-equity ratio of 3.17. NeuroPace has a twelve month low of $7.56 and a twelve month high of $18.98. The company has a fifty day moving average of $15.63 and a 200-day moving average of $13.27. The firm has a market capitalization of $464.67 million, a P/E ratio of -21.14 and a beta of 1.86.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. NeuroPace had a negative net margin of 21.47% and a negative return on equity of 103.49%. The business had revenue of $26.59 million during the quarter, compared to analysts’ expectations of $24.79 million. As a group, sell-side analysts anticipate that NeuroPace will post -1 EPS for the current year.

Institutional Investors Weigh In On NeuroPace

Several large investors have recently made changes to their positions in the business. Kotler Kevin purchased a new position in shares of NeuroPace in the 4th quarter worth about $9,750,000. Divisadero Street Capital Management LP raised its position in NeuroPace by 529.2% in the second quarter. Divisadero Street Capital Management LP now owns 242,120 shares of the company’s stock worth $2,697,000 after acquiring an additional 203,640 shares during the period. Walleye Capital LLC raised its position in NeuroPace by 344.6% in the fourth quarter. Walleye Capital LLC now owns 228,847 shares of the company’s stock worth $3,533,000 after acquiring an additional 177,375 shares during the period. Geode Capital Management LLC boosted its stake in NeuroPace by 44.6% in the second quarter. Geode Capital Management LLC now owns 485,162 shares of the company’s stock valued at $5,406,000 after acquiring an additional 149,595 shares during the last quarter. Finally, Armistice Capital LLC grew its position in shares of NeuroPace by 12.6% during the 3rd quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock valued at $13,382,000 after acquiring an additional 145,665 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

NeuroPace Company Profile

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.