Analysts Set NeuroPace, Inc. (NASDAQ:NPCE) Price Target at $15.50

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $15.50.

Several analysts have commented on NPCE shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $17.00 target price on shares of NeuroPace in a research report on Wednesday, May 14th. HC Wainwright started coverage on shares of NeuroPace in a research report on Wednesday, May 28th. They set a “buy” rating and a $18.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of NeuroPace from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, May 14th.

NeuroPace Stock Up 1.8%

Shares of NPCE opened at $10.76 on Friday. The company has a market capitalization of $352.92 million, a P/E ratio of -12.81 and a beta of 2.03. The company has a debt-to-equity ratio of 2.46, a current ratio of 6.63 and a quick ratio of 5.70. NeuroPace has a one year low of $5.45 and a one year high of $18.98. The business’s 50 day simple moving average is $12.83 and its 200-day simple moving average is $12.37.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, May 13th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.05. The business had revenue of $22.52 million for the quarter, compared to the consensus estimate of $21.85 million. NeuroPace had a negative return on equity of 190.84% and a negative net margin of 29.42%. As a group, sell-side analysts predict that NeuroPace will post -1 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Orbimed Advisors Llc sold 168,136 shares of NeuroPace stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $15.85, for a total value of $2,664,955.60. Following the transaction, the insider now directly owns 3,238,199 shares of the company’s stock, valued at $51,325,454.15. This trade represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 20.50% of the stock is owned by company insiders.

Institutional Trading of NeuroPace

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers grew its stake in shares of NeuroPace by 15.2% in the first 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 last quarter. Petrus Trust Company LTA bought a new stake in shares of NeuroPace in the first quarter worth $165,000. First Light Asset Management LLC bought a new stake in shares of NeuroPace in the first quarter worth $19,468,000. Birchview Capital LP grew its stake in shares of NeuroPace by 64.4% in the first quarter. Birchview Capital LP now owns 16,442 shares of the company’s stock worth $202,000 after purchasing an additional 6,442 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new stake in shares of NeuroPace in the first quarter worth $2,458,000. Institutional investors own 78.83% of the company’s stock.

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.