NeuroPace (NASDAQ:NPCE) Coverage Initiated by Analysts at HC Wainwright

Equities research analysts at HC Wainwright started coverage on shares of NeuroPace (NASDAQ:NPCE) in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $18.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 37.30% from the company’s previous close.

Several other research analysts also recently commented on NPCE. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $17.00 price target on shares of NeuroPace in a research note on Wednesday, May 14th. JPMorgan Chase & Co. upped their target price on shares of NeuroPace from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company raised their target price on shares of NeuroPace from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.50.

NeuroPace Trading Up 5.2%

Shares of NASDAQ NPCE opened at $13.11 on Wednesday. NeuroPace has a fifty-two week low of $5.45 and a fifty-two week high of $18.98. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.77 and a current ratio of 5.59. The company has a market cap of $429.99 million, a price-to-earnings ratio of -13.11 and a beta of 2.04. The business’s 50 day moving average price is $12.82 and its 200-day moving average price is $12.12.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.05. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. The business had revenue of $22.52 million for the quarter, compared to analyst estimates of $21.85 million. On average, sell-side analysts expect that NeuroPace will post -1 earnings per share for the current year.

Insider Activity

In related news, major shareholder Orbimed Advisors Llc sold 168,136 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $15.85, for a total value of $2,664,955.60. Following the completion of the sale, the insider now directly owns 3,238,199 shares of the company’s stock, valued at $51,325,454.15. This represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in shares of NeuroPace by 15.2% in the 1st quarter. Rhumbline Advisers now owns 17,227 shares of the company’s stock worth $212,000 after purchasing an additional 2,267 shares during the period. Petrus Trust Company LTA bought a new position in NeuroPace in the first quarter worth approximately $165,000. First Light Asset Management LLC bought a new position in NeuroPace in the first quarter worth approximately $19,468,000. Birchview Capital LP lifted its holdings in NeuroPace by 64.4% during the first quarter. Birchview Capital LP now owns 16,442 shares of the company’s stock worth $202,000 after buying an additional 6,442 shares during the period. Finally, Ghisallo Capital Management LLC purchased a new stake in NeuroPace during the first quarter worth $2,458,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

About NeuroPace

NeuroPace, Inc operates as a medical device company in the United States. The company develops RNS system, a brain-responsive neuromodulation system that delivers personalized, real-time treatment at the seizure source for treating medically refractory focal epilepsy. It also records continuous brain activity data and enables clinicians to monitor patients in person and remotely.