NeuroPace, Inc. (NASDAQ:NPCE) Receives $18.83 Average PT from Brokerages

NeuroPace, Inc. (NASDAQ:NPCE) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $18.8333.

A number of research firms have commented on NPCE. HC Wainwright lifted their target price on shares of NeuroPace from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th.

NeuroPace Price Performance

NPCE opened at $16.47 on Friday. The company’s 50-day simple moving average is $16.23 and its two-hundred day simple moving average is $15.63. The company has a debt-to-equity ratio of 4.08, a quick ratio of 4.35 and a current ratio of 5.38. The stock has a market capitalization of $561.46 million, a P/E ratio of -25.34 and a beta of 1.88. NeuroPace has a 52-week low of $7.56 and a 52-week high of $19.60.

NeuroPace (NASDAQ:NPCE) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. NeuroPace had a negative net margin of 21.67% and a negative return on equity of 108.20%. The firm had revenue of $22.00 million during the quarter, compared to analyst estimates of $21.65 million. As a group, analysts predict that NeuroPace will post -0.54 EPS for the current year.

Institutional Trading of NeuroPace

A number of hedge funds have recently bought and sold shares of NPCE. Legal & General Group Plc lifted its holdings in NeuroPace by 86.0% in the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after acquiring an additional 1,239 shares during the period. Quantbot Technologies LP purchased a new stake in shares of NeuroPace during the 2nd quarter valued at about $35,000. Quarry LP increased 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 purchasing an additional 1,872 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of NeuroPace in the 4th quarter worth approximately $118,000. Finally, New York State Common Retirement Fund lifted its stake in shares of NeuroPace by 755.6% in the 4th quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock worth $119,000 after purchasing an additional 6,800 shares during the period. Hedge funds and other 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.