NeuroPace, Inc. (NASDAQ:NPCE) Receives $19.29 Average Target Price from Brokerages

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $19.2857.

A number of research analysts have recently issued reports on the company. Mizuho assumed coverage on NeuroPace in a research note on Thursday, July 23rd. They set an “outperform” rating and a $22.00 price objective on the stock. Guggenheim restated a “neutral” rating on shares of NeuroPace in a report on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research report on Wednesday, June 24th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of NeuroPace in a research note on Wednesday, July 29th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc boosted its position in NeuroPace by 86.0% during the 2nd quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after buying an additional 1,239 shares during the period. Quantbot Technologies LP purchased a new position in shares of NeuroPace in the second quarter valued at about $35,000. Quarry LP increased its position in shares of NeuroPace by 94.9% in the third 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 period. SG Americas Securities LLC bought a new position in shares of NeuroPace during the fourth quarter valued at about $118,000. Finally, New York State Common Retirement Fund raised its position in NeuroPace by 755.6% during the 4th quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock valued at $119,000 after purchasing an additional 6,800 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

NeuroPace Price Performance

Shares of NeuroPace stock opened at $14.88 on Tuesday. The company has a debt-to-equity ratio of 4.08, a quick ratio of 4.35 and a current ratio of 5.38. NeuroPace has a 52-week low of $7.56 and a 52-week high of $19.60. The company has a fifty day moving average of $15.59 and a 200-day moving average of $15.42. The stock has a market capitalization of $507.26 million, a price-to-earnings ratio of -22.89 and a beta of 1.92.

NeuroPace (NASDAQ:NPCE) last issued its 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 company had revenue of $22.00 million for the quarter, compared to analysts’ expectations of $21.65 million. Equities research analysts expect that NeuroPace will post -0.54 EPS for the current year.

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.