Brokerages Set NeuroPace, Inc. (NASDAQ:NPCE) Price Target at $19.29

NeuroPace, Inc. (NASDAQ:NPCE) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.2857.

NPCE has been the topic of several analyst reports. Mizuho started coverage on NeuroPace in a report on Thursday, July 23rd. They set an “outperform” rating and a $22.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of NeuroPace in a research report on Wednesday, July 29th. Guggenheim reissued a “neutral” rating on shares of NeuroPace in a research report on Wednesday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of NeuroPace in a research report on Monday, August 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th.

Institutional Investors Weigh In On NeuroPace

Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its holdings in NeuroPace by 86.0% during the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock worth $30,000 after buying an additional 1,239 shares in the last quarter. Quarry LP increased its stake in NeuroPace by 94.9% in the 3rd quarter. Quarry LP now owns 3,845 shares of the company’s stock valued at $40,000 after buying an additional 1,872 shares during the period. Man Group plc raised its holdings in shares of NeuroPace by 9.7% during the fourth quarter. Man Group plc now owns 21,626 shares of the company’s stock worth $334,000 after acquiring an additional 1,920 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in NeuroPace by 23.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,836 shares of the company’s stock worth $230,000 after buying an additional 2,778 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of NeuroPace during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

NeuroPace Stock Performance

Shares of NeuroPace stock opened at $14.90 on Friday. The firm’s fifty day simple moving average is $15.10 and its 200-day simple moving average is $15.26. NeuroPace has a 12 month low of $9.22 and a 12 month high of $19.60. The company has a debt-to-equity ratio of 4.97, a current ratio of 4.94 and a quick ratio of 3.91. The stock has a market capitalization of $511.37 million, a price-to-earnings ratio of -26.14 and a beta of 1.94.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The business had revenue of $22.83 million for the quarter, compared to analyst estimates of $22.61 million. NeuroPace had a negative net margin of 19.34% and a negative return on equity of 105.64%. As a group, equities analysts forecast that NeuroPace will post -0.67 earnings per share for the current year.

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.