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

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

Several research firms recently commented on NPCE. Wells Fargo & Company upgraded shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 18th. Wall Street Zen downgraded shares of NeuroPace from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. 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 report on Friday, May 15th. Cantor Fitzgerald upgraded shares of NeuroPace to a “strong-buy” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a report on Friday, March 27th.

NeuroPace Stock Performance

NASDAQ:NPCE opened at $15.64 on Monday. The stock’s 50 day moving average price is $16.15 and its 200 day moving average price is $15.65. The company has a market capitalization of $533.17 million, a PE ratio of -24.06 and a beta of 1.88. 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 52-week low of $7.56 and a 52-week high of $19.60.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $22.00 million during the quarter, compared to analysts’ expectations of $21.65 million. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%. On average, research analysts anticipate that NeuroPace will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NPCE. Legal & General Group Plc raised its stake 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 worth $30,000 after purchasing an additional 1,239 shares during the last quarter. GSA Capital Partners LLP grew its position in NeuroPace by 2.5% in the 3rd 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 stake in NeuroPace by 94.9% in the 3rd quarter. Quarry LP now owns 3,845 shares of the company’s stock valued at $40,000 after buying an additional 1,872 shares during the period. Man Group plc increased its stake in NeuroPace by 9.7% in the 4th quarter. Man Group plc now owns 21,626 shares of the company’s stock valued at $334,000 after buying an additional 1,920 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in NeuroPace by 23.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,836 shares of the company’s stock worth $230,000 after buying an additional 2,778 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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.