Analysts Set NeuroPace, Inc. (NASDAQ:NPCE) Target Price at $14.00

NeuroPace, Inc. (NASDAQ:NPCE) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.00.

NPCE has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $18.00 price objective on shares of NeuroPace in a report on Wednesday, August 14th. Morgan Stanley decreased their price objective on NeuroPace from $9.50 to $8.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Finally, Wells Fargo & Company decreased their price objective on NeuroPace from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th.

NeuroPace Price Performance

Shares of NeuroPace stock opened at $6.29 on Thursday. The company has a quick ratio of 5.47, a current ratio of 6.37 and a debt-to-equity ratio of 5.97. The company has a market cap of $183.67 million, a PE ratio of -5.77 and a beta of 1.79. The business has a 50 day moving average of $6.88 and a 200 day moving average of $7.84. NeuroPace has a 52 week low of $5.45 and a 52 week high of $18.15.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, August 13th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. The company had revenue of $19.26 million during the quarter, compared to the consensus estimate of $18.30 million. NeuroPace had a negative return on equity of 195.26% and a negative net margin of 41.63%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.36) earnings per share. As a group, equities research analysts forecast that NeuroPace will post -1.08 earnings per share for the current year.

Insider Activity

In other news, major shareholder Ltd. Kck sold 4,910 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $6.66, for a total transaction of $32,700.60. Following the completion of the transaction, the insider now directly owns 5,540,104 shares in the company, valued at $36,897,092.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 257,590 shares of company stock worth $1,437,916 over the last three months. 22.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NeuroPace

Several institutional investors have recently modified their holdings of NPCE. Vanguard Group Inc. boosted its position in shares of NeuroPace by 18.3% during the first quarter. Vanguard Group Inc. now owns 488,618 shares of the company’s stock valued at $6,450,000 after buying an additional 75,512 shares during the last quarter. Acadian Asset Management LLC purchased a new position in NeuroPace in the first quarter worth about $621,000. Hillsdale Investment Management Inc. purchased a new position in NeuroPace in the first quarter worth about $155,000. Bank of New York Mellon Corp bought a new stake in shares of NeuroPace during the 2nd quarter valued at about $257,000. Finally, Financial Advocates Investment Management grew its stake in shares of NeuroPace by 50.0% during the 2nd quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock valued at $113,000 after purchasing an additional 5,000 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

NeuroPace Company Profile

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.