NeuroPace, Inc. (NASDAQ:NPCE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $18.8333.

A number of research analysts have issued reports on the stock. HC Wainwright upped their target price on shares of NeuroPace from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Wall Street Zen downgraded shares of NeuroPace from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Cantor Fitzgerald upgraded shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research report on Friday, March 27th. Finally, Wells Fargo & Company upgraded shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 18th.

Institutional Trading of NeuroPace

A number of hedge funds have recently modified their holdings of NPCE. First Light Asset Management LLC raised its position in shares of NeuroPace by 82.3% in the 1st quarter. First Light Asset Management LLC now owns 2,459,966 shares of the company’s stock valued at $32,349,000 after acquiring an additional 1,110,484 shares during the period. Kotler Kevin acquired a new stake in shares of NeuroPace in the 4th quarter valued at approximately $9,750,000. Walleye Capital LLC raised its position in shares of NeuroPace by 344.6% in the 4th quarter. Walleye Capital LLC now owns 228,847 shares of the company’s stock valued at $3,533,000 after acquiring an additional 177,375 shares during the period. Geode Capital Management LLC raised its position in shares of NeuroPace by 44.6% in the 2nd quarter. Geode Capital Management LLC now owns 485,162 shares of the company’s stock valued at $5,406,000 after acquiring an additional 149,595 shares during the period. Finally, Armistice Capital LLC raised its position in shares of NeuroPace by 12.6% in the 3rd quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock valued at $13,382,000 after acquiring an additional 145,665 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

NeuroPace Stock Up 2.6%

Shares of NASDAQ NPCE opened at $16.27 on Thursday. The company has a quick ratio of 4.35, a current ratio of 5.38 and a debt-to-equity ratio of 4.08. NeuroPace has a 12-month low of $7.56 and a 12-month high of $19.60. The company has a market cap of $554.71 million, a price-to-earnings ratio of -25.03 and a beta of 1.92. The firm’s 50-day simple moving average is $15.24 and its 200 day simple moving average is $15.23.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. NeuroPace had a negative net margin of 21.67% and a negative return on equity of 108.20%. The company had revenue of $22.00 million for the quarter, compared to the consensus estimate of $21.65 million. On average, research analysts expect that NeuroPace will post -0.44 earnings per share 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.