NeuroPace, Inc. (NASDAQ:NPCE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $18.50.

Several analysts have recently commented on NPCE shares. UBS Group increased their price target on shares of NeuroPace from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $16.00 price objective on shares of NeuroPace in a report on Wednesday, November 5th. Leerink Partners reiterated an “outperform” rating and issued a $19.00 price objective on shares of NeuroPace in a research report on Wednesday, November 5th. Wells Fargo & Company boosted their target price on NeuroPace from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of NeuroPace in a report on Monday, December 15th.

NeuroPace Price Performance

NeuroPace stock opened at $16.59 on Monday. The business’s fifty day moving average is $13.51 and its two-hundred day moving average is $11.18. The company has a debt-to-equity ratio of 3.17, a quick ratio of 3.94 and a current ratio of 4.86. The firm has a market cap of $552.61 million, a P/E ratio of -21.83 and a beta of 1.85. NeuroPace has a 52 week low of $7.56 and a 52 week high of $18.98.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. The business had revenue of $27.35 million during the quarter, compared to analysts’ expectations of $24.64 million. NeuroPace had a negative return on equity of 136.60% and a negative net margin of 25.28%. Equities research analysts forecast that NeuroPace will post -1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeuroPace

Several institutional investors have recently modified their holdings of NPCE. First Light Asset Management LLC acquired a new position in NeuroPace in the first quarter valued at approximately $19,468,000. Vanguard Group Inc. raised its position in shares of NeuroPace by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,435,850 shares of the company’s stock valued at $14,804,000 after acquiring an additional 66,574 shares during the last quarter. Armistice Capital LLC lifted its stake in shares of NeuroPace by 12.6% in the 3rd quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock valued at $13,382,000 after purchasing an additional 145,665 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of NeuroPace in the 1st quarter valued at $9,874,000. Finally, Geode Capital Management LLC boosted its position in shares of NeuroPace by 44.6% in the 2nd 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 last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

NeuroPace Company Profile

NeuroPace, Inc is a medical device company based in Mountain View, California, that develops innovative neuromodulation systems for the treatment of neurological disorders. Founded in the late 1990s out of research at Stanford University, the company’s mission centers on delivering closed-loop, “smart” therapies that monitor and respond to electrical activity in the brain. In 2020, NeuroPace completed its initial public offering and now trades on the NASDAQ under the ticker NPCE.

The company’s flagship product, the RNS® System, is an implantable device designed for adults with medically refractory focal epilepsy.