NeuroPace, Inc. (NASDAQ:NPCE) Receives Consensus Rating of “Moderate Buy” from Brokerages

NeuroPace, Inc. (NASDAQ:NPCE) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $18.6667.

A number of research analysts recently weighed in on NPCE shares. UBS Group reaffirmed a “buy” rating on shares of NeuroPace in a research report on Wednesday, January 14th. Cantor Fitzgerald upgraded NeuroPace to a “strong-buy” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on NeuroPace from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. HC Wainwright upped their price target on shares of NeuroPace from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research note on Monday, December 29th.

Hedge Funds Weigh In On NeuroPace

Hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its holdings in shares of NeuroPace by 83.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company’s stock worth $27,000 after purchasing an additional 1,118 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of NeuroPace by 86.0% during 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. GSA Capital Partners LLP boosted its position in shares of NeuroPace by 2.5% during the third quarter. GSA Capital Partners LLP now owns 54,536 shares of the company’s stock valued at $562,000 after buying an additional 1,323 shares during the last quarter. Quarry LP increased its holdings in NeuroPace by 94.9% in 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, Man Group plc lifted its stake in NeuroPace by 9.7% during the 4th quarter. Man Group plc now owns 21,626 shares of the company’s stock valued at $334,000 after acquiring an additional 1,920 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

NeuroPace Trading Up 3.2%

NASDAQ:NPCE opened at $14.03 on Friday. NeuroPace has a one year low of $7.56 and a one year high of $18.98. The company has a debt-to-equity ratio of 3.09, a current ratio of 5.28 and a quick ratio of 3.94. The company’s 50-day simple moving average is $15.54 and its 200 day simple moving average is $13.31. The firm has a market capitalization of $472.39 million, a P/E ratio of -21.26 and a beta of 1.86.

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