NeuroPace, Inc. (NASDAQ:NPCE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $18.50.

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their target price on NeuroPace from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $16.00 price target on shares of NeuroPace in a report on Wednesday, November 5th. UBS Group restated a “buy” rating on shares of NeuroPace in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a research report on Monday, December 29th. Finally, Leerink Partners reiterated an “outperform” rating and set a $19.00 target price on shares of NeuroPace in a report on Wednesday, November 5th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its stake in NeuroPace by 83.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company’s stock valued at $27,000 after acquiring an additional 1,118 shares in the last quarter. Legal & General Group Plc lifted its position in shares of NeuroPace by 86.0% in the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock worth $30,000 after purchasing an additional 1,239 shares in the last quarter. Quantbot Technologies LP acquired a new position in NeuroPace during the second quarter worth $35,000. Quarry LP grew its position in NeuroPace by 94.9% in the third quarter. Quarry LP now owns 3,845 shares of the company’s stock valued at $40,000 after purchasing an additional 1,872 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its position in NeuroPace by 72.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 6,371 shares of the company’s stock valued at $71,000 after purchasing an additional 2,668 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

NeuroPace Stock Performance

Shares of NeuroPace stock opened at $17.35 on Friday. NeuroPace has a 12 month low of $7.56 and a 12 month high of $18.98. The company has a current ratio of 4.86, a quick ratio of 3.94 and a debt-to-equity ratio of 3.17. The company has a market capitalization of $577.93 million, a PE ratio of -22.83 and a beta of 1.85. The stock’s fifty day simple moving average is $15.63 and its 200 day simple moving average is $11.83.

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

About NeuroPace

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.