Wells Fargo & Company Has Lowered Expectations for NeuroPace (NASDAQ:NPCE) Stock Price

NeuroPace (NASDAQ:NPCE) had its target price lowered by investment analysts at Wells Fargo & Company from $17.00 to $15.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 66.11% from the company’s current price.

Several other research firms have also issued reports on NPCE. Cantor Fitzgerald reiterated an “overweight” rating and issued a $17.00 target price on shares of NeuroPace in a research note on Wednesday, May 14th. HC Wainwright started coverage on NeuroPace in a research note on Wednesday, May 28th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on NeuroPace from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, May 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, NeuroPace currently has a consensus rating of “Buy” and a consensus target price of $16.60.

NeuroPace Stock Performance

Shares of NeuroPace stock opened at $9.03 on Wednesday. The firm has a market cap of $298.71 million, a P/E ratio of -10.75 and a beta of 1.89. The company has a current ratio of 5.47, a quick ratio of 5.70 and a debt-to-equity ratio of 3.02. NeuroPace has a 12 month low of $5.45 and a 12 month high of $18.98. The stock’s fifty day moving average price is $10.00 and its 200-day moving average price is $11.78.

NeuroPace (NASDAQ:NPCE) last posted its earnings results on Tuesday, August 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.02). NeuroPace had a negative net margin of 29.29% and a negative return on equity of 168.61%. The company had revenue of $23.52 million during the quarter, compared to analysts’ expectations of $23.08 million. On average, equities research analysts expect that NeuroPace will post -1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeuroPace

Several institutional investors have recently added to or reduced their stakes in the business. First Light Asset Management LLC acquired a new stake in shares of NeuroPace during the first quarter worth about $19,468,000. Armistice Capital LLC lifted its holdings in shares of NeuroPace by 94.7% during the first quarter. Armistice Capital LLC now owns 1,153,614 shares of the company’s stock worth $14,178,000 after purchasing an additional 561,000 shares during the period. Deutsche Bank AG lifted its holdings in shares of NeuroPace by 124.0% during the first quarter. Deutsche Bank AG now owns 924,274 shares of the company’s stock worth $11,359,000 after purchasing an additional 511,662 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of NeuroPace during the first quarter worth about $9,874,000. Finally, Geode Capital Management LLC lifted its holdings in shares of NeuroPace by 44.6% during the second quarter. Geode Capital Management LLC now owns 485,162 shares of the company’s stock worth $5,406,000 after purchasing an additional 149,595 shares during the period. Institutional investors and hedge funds 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.