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

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $15.67.

NPCE has been the topic of a number of research reports. SVB Leerink assumed coverage on shares of NeuroPace in a report on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 price objective on the stock. Wells Fargo & Company raised shares of NeuroPace from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $16.00 to $20.00 in a research report on Thursday, March 14th. Cantor Fitzgerald upped their price objective on NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Leerink Partnrs reiterated an “outperform” rating on shares of NeuroPace in a research report on Tuesday, January 30th. Finally, Lake Street Capital restated a “buy” rating and issued a $12.00 price target on shares of NeuroPace in a research report on Wednesday, December 27th.

NeuroPace Price Performance

Shares of NPCE opened at $13.50 on Friday. The firm has a market cap of $354.83 million, a PE ratio of -10.55 and a beta of 2.08. NeuroPace has a 1-year low of $3.80 and a 1-year high of $18.15. The company has a current ratio of 5.71, a quick ratio of 5.02 and a debt-to-equity ratio of 2.76. The firm has a fifty day simple moving average of $14.72 and a two-hundred day simple moving average of $11.24.

NeuroPace (NASDAQ:NPCE) last posted its earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.10. The company had revenue of $18.01 million for the quarter, compared to the consensus estimate of $17.74 million. NeuroPace had a negative return on equity of 153.76% and a negative net margin of 50.38%. On average, equities analysts anticipate that NeuroPace will post -1.14 EPS for the current year.

Insiders Place Their Bets

In other NeuroPace news, insider Martha Morrell sold 1,923 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $15.08, for a total transaction of $28,998.84. Following the sale, the insider now directly owns 96,014 shares of the company’s stock, valued at $1,447,891.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 27.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NeuroPace

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of NeuroPace by 2.1% during the first quarter. State Street Corp now owns 98,717 shares of the company’s stock worth $810,000 after acquiring an additional 2,042 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of NeuroPace by 19.3% during the 2nd quarter. Renaissance Technologies LLC now owns 17,300 shares of the company’s stock valued at $78,000 after purchasing an additional 2,800 shares during the last quarter. Citigroup Inc. purchased a new position in shares of NeuroPace during the third quarter valued at about $29,000. Barclays PLC grew its position in shares of NeuroPace by 28.9% during the fourth quarter. Barclays PLC now owns 13,971 shares of the company’s stock valued at $144,000 after purchasing an additional 3,132 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of NeuroPace by 11.2% in the second quarter. BlackRock Inc. now owns 36,117 shares of the company’s stock worth $162,000 after purchasing an additional 3,646 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

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.