Brokerages Set NeuroPace, Inc. (NASDAQ:NPCE) Target Price at $18.67

NeuroPace, Inc. (NASDAQ:NPCE) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $18.6667.

A number of equities analysts have commented on NPCE shares. Leerink Partners restated an “outperform” rating and issued a $19.00 price target on shares of NeuroPace in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NeuroPace in a research note on Monday, December 29th. Wells Fargo & Company increased their price target on NeuroPace from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. UBS Group reaffirmed a “buy” rating on shares of NeuroPace in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price objective on NeuroPace from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th.

NeuroPace Stock Performance

Shares of NASDAQ:NPCE opened at $15.05 on Tuesday. The company has a debt-to-equity ratio of 3.17, a current ratio of 4.86 and a quick ratio of 3.94. The business’s fifty day moving average price is $16.07 and its two-hundred day moving average price is $12.75. NeuroPace has a fifty-two week low of $7.56 and a fifty-two week high of $18.98. The stock has a market capitalization of $501.32 million, a price-to-earnings ratio of -19.80 and a beta of 1.85.

Institutional Investors Weigh In On NeuroPace

A number of hedge funds have recently added to or reduced their stakes in NPCE. Ameritas Investment Partners Inc. raised its stake in shares of NeuroPace by 83.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company’s stock worth $27,000 after acquiring an additional 1,118 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of 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 purchasing an additional 1,239 shares in the last quarter. Quantbot Technologies LP bought a new position in NeuroPace in the 2nd quarter worth approximately $35,000. Quarry LP lifted its holdings in NeuroPace by 94.9% during the 3rd quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after buying an additional 1,872 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in 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 worth $71,000 after buying an additional 2,668 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

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.