NeuroPace (NASDAQ:NPCE) Price Target Raised to $16.00

NeuroPace (NASDAQ:NPCE) had its price objective hoisted by JPMorgan Chase & Co. from $14.00 to $16.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also issued reports on NPCE. Wells Fargo & Company lifted their price objective on shares of NeuroPace from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. UBS Group started coverage on shares of NeuroPace in a report on Tuesday, January 21st. They set a “buy” rating and a $17.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $17.00 target price on shares of NeuroPace in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

NeuroPace Stock Up 2.4%

Shares of NASDAQ:NPCE opened at $17.49 on Wednesday. The company has a current ratio of 5.59, a quick ratio of 4.77 and a debt-to-equity ratio of 6.03. NeuroPace has a 12 month low of $5.45 and a 12 month high of $17.85. The company has a 50-day moving average price of $11.97 and a 200 day moving average price of $11.56. The company has a market cap of $572.85 million, a price-to-earnings ratio of -17.49 and a beta of 2.04.

NeuroPace (NASDAQ:NPCE) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.05. The business had revenue of $22.52 million during the quarter, compared to the consensus estimate of $21.85 million. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. As a group, equities research analysts predict that NeuroPace will post -1 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Orbimed Advisors Llc sold 168,136 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $15.85, for a total transaction of $2,664,955.60. Following the completion of the sale, the insider now owns 3,238,199 shares of the company’s stock, valued at approximately $51,325,454.15. This represents a 4.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martha Morrell sold 78,334 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $13.72, for a total transaction of $1,074,742.48. Following the completion of the sale, the insider now owns 81,993 shares of the company’s stock, valued at approximately $1,124,943.96. The trade was a 48.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,517,315 shares of company stock worth $53,285,641 in the last 90 days. Insiders own 22.20% of the company’s stock.

Institutional Trading of NeuroPace

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of NeuroPace by 15.2% during the 1st quarter. Rhumbline Advisers now owns 17,227 shares of the company’s stock worth $212,000 after purchasing an additional 2,267 shares during the period. Wells Fargo & Company MN grew its position in NeuroPace by 54.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,483 shares of the company’s stock worth $73,000 after purchasing an additional 2,279 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in NeuroPace during the 4th quarter worth $29,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of NeuroPace by 7.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 39,237 shares of the company’s stock valued at $482,000 after acquiring an additional 2,700 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of NeuroPace in the first quarter valued at about $53,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.