NeuroPace (NASDAQ:NPCE) Coverage Initiated at Mizuho

Mizuho assumed coverage on shares of NeuroPace (NASDAQ:NPCE) in a report released on Thursday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $22.00 price target on the stock. Mizuho’s price target suggests a potential upside of 48.55% from the company’s previous close.

A number of other analysts have also weighed in on NPCE. Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a research report on Wednesday, June 24th. HC Wainwright increased their target price on NeuroPace from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, NeuroPace currently has a consensus rating of “Moderate Buy” and an average price target of $19.29.

NeuroPace Stock Up 0.9%

Shares of NASDAQ:NPCE opened at $14.81 on Thursday. The company has a 50-day moving average price of $16.12 and a 200 day moving average price of $15.62. The company has a current ratio of 5.38, a quick ratio of 4.35 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 $504.87 million, a price-to-earnings ratio of -22.78 and a beta of 1.88.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data 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. The business had revenue of $22.00 million for the quarter, compared to the consensus estimate of $21.65 million. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%. As a group, equities research analysts predict that NeuroPace will post -0.54 earnings per share for the current year.

Institutional Trading of NeuroPace

Institutional investors and hedge funds have recently made changes to their positions in the company. First Light Asset Management LLC raised its holdings 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 purchasing an additional 1,110,484 shares in the last quarter. Vanguard Group Inc. boosted its position in NeuroPace by 4.9% during the third quarter. Vanguard Group Inc. now owns 1,435,850 shares of the company’s stock valued at $14,804,000 after purchasing an additional 66,574 shares in the last quarter. Armistice Capital LLC boosted its position in NeuroPace by 12.6% during the third quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock valued at $13,382,000 after purchasing an additional 145,665 shares in the last quarter. Kotler Kevin purchased a new position in NeuroPace in the fourth quarter valued at about $9,750,000. Finally, Geode Capital Management LLC grew its position in shares of NeuroPace by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 596,248 shares of the company’s stock worth $9,208,000 after buying an additional 36,516 shares during the last quarter. 78.83% of the stock is currently owned by 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.