NeuroPace (NASDAQ:NPCE) Price Target Increased to $9.00 by Analysts at JPMorgan Chase & Co.

NeuroPace (NASDAQ:NPCE) had its price objective hoisted by JPMorgan Chase & Co. from $6.00 to $9.00 in a research note released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages have also recently weighed in on NPCE. Morgan Stanley upgraded shares of NeuroPace from an underweight rating to an equal weight rating and boosted their price objective for the stock from $5.00 to $6.00 in a research note on Thursday, August 24th. Wells Fargo & Company increased their price objective on NeuroPace from $6.00 to $9.00 and gave the company an equal weight rating in a research report on Wednesday, October 4th.

NeuroPace Price Performance

Shares of NeuroPace stock opened at $7.07 on Tuesday. The firm has a fifty day simple moving average of $7.59 and a 200-day simple moving average of $5.58. The company has a current ratio of 7.52, a quick ratio of 6.65 and a debt-to-equity ratio of 2.58. NeuroPace has a 1-year low of $1.22 and a 1-year high of $9.73. The stock has a market capitalization of $182.83 million, a price-to-earnings ratio of -4.16 and a beta of 1.99.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. NeuroPace had a negative net margin of 77.25% and a negative return on equity of 133.74%. The business had revenue of $16.51 million during the quarter, compared to analysts’ expectations of $12.74 million. On average, sell-side analysts expect that NeuroPace will post -1.53 earnings per share for the current year.

Insider Transactions at NeuroPace

In other news, major shareholder Orbimed Advisors Llc sold 7,614 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $9.08, for a total value of $69,135.12. Following the sale, the insider now directly owns 4,004,667 shares in the company, valued at approximately $36,362,376.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 27.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NeuroPace

Several large investors have recently modified their holdings of the stock. Morgan Stanley increased its holdings in shares of NeuroPace by 3.1% during the fourth quarter. Morgan Stanley now owns 2,188,593 shares of the company’s stock worth $3,261,000 after buying an additional 64,990 shares in the last quarter. Millennium Management LLC increased its holdings in shares of NeuroPace by 19.8% during the second quarter. Millennium Management LLC now owns 506,905 shares of the company’s stock worth $2,509,000 after buying an additional 83,877 shares in the last quarter. State Street Corp increased its holdings 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 buying an additional 2,042 shares in the last quarter. BlackRock Inc. increased its holdings in shares of NeuroPace by 11.2% during the second quarter. BlackRock Inc. now owns 36,117 shares of the company’s stock worth $162,000 after buying an additional 3,646 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of NeuroPace during the second quarter worth approximately $108,000. 67.69% of the stock is currently owned by institutional investors.

NeuroPace Company Profile

NeuroPace, Inc operates as a medical device company in the United States. It develops and sells RNS system, a brain-responsive neuromodulation system that delivers personalized, real-time treatment at the seizure source for treating medically refractory focal epilepsy. The company's RNS system also records continuous brain activity data and enables clinicians to monitor patients in person and remotely.