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

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

A number of research firms recently weighed in on NPCE. Cantor Fitzgerald upgraded shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 4th. 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 research report on Wednesday, December 10th. UBS Group restated a “buy” rating on shares of NeuroPace in a research note on Wednesday, January 14th. HC Wainwright lifted their target price on shares of NeuroPace from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Finally, Wells Fargo & Company upgraded shares of NeuroPace to a “strong-buy” rating in a research note on Wednesday, March 18th.

Hedge Funds Weigh In On NeuroPace

Several institutional investors and 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% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company’s stock worth $27,000 after buying an additional 1,118 shares in the last quarter. Legal & General Group Plc boosted its stake 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 buying an additional 1,239 shares in the last quarter. Quantbot Technologies LP acquired a new position in NeuroPace during the second quarter worth $35,000. Quarry LP grew its holdings in NeuroPace by 94.9% during the third quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after acquiring an additional 1,872 shares during the period. Finally, SG Americas Securities LLC purchased a new position in NeuroPace in the fourth quarter worth $118,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

NeuroPace Price Performance

NeuroPace stock opened at $14.65 on Wednesday. NeuroPace has a twelve month low of $7.56 and a twelve month high of $18.98. The stock has a 50 day moving average of $14.49 and a two-hundred day moving average of $13.99. The company has a current ratio of 5.28, a quick ratio of 4.33 and a debt-to-equity ratio of 3.09. The stock has a market capitalization of $493.27 million, a price-to-earnings ratio of -22.20 and a beta of 1.87.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, March 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.06. NeuroPace had a negative return on equity of 105.67% and a negative net margin of 21.47%.The business had revenue of $26.59 million for the quarter, compared to analyst estimates of $24.79 million. As a group, research analysts expect that NeuroPace will post -1 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.