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

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have received an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $18.6667.

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of NeuroPace from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. HC Wainwright raised their price target on NeuroPace from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. UBS Group reiterated a “buy” rating on shares of NeuroPace in a research report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a report on Monday, December 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $16.00 target price on shares of NeuroPace in a research report on Wednesday, November 5th.

NeuroPace Price Performance

NPCE opened at $15.26 on Tuesday. The company’s 50-day simple moving average is $16.20 and its two-hundred day simple moving average is $12.61. 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 stock has a market capitalization of $508.31 million, a P/E ratio of -20.08 and a beta of 1.85. NeuroPace has a 52-week low of $7.56 and a 52-week high of $18.98.

Institutional Trading of NeuroPace

Several large investors have recently added to or reduced their stakes in NPCE. Divisadero Street Capital Management LP raised its position in NeuroPace by 529.2% in the second quarter. Divisadero Street Capital Management LP now owns 242,120 shares of the company’s stock worth $2,697,000 after acquiring an additional 203,640 shares during the period. Geode Capital Management LLC increased its stake 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 in the last quarter. Armistice Capital LLC raised its holdings in NeuroPace by 12.6% in the 3rd quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock worth $13,382,000 after purchasing an additional 145,665 shares during the period. Essex Investment Management Co. LLC lifted its position in NeuroPace by 194.2% during the third quarter. Essex Investment Management Co. LLC now owns 216,722 shares of the company’s stock valued at $2,234,000 after purchasing an additional 143,063 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in NeuroPace by 89.8% during the third quarter. Qube Research & Technologies Ltd now owns 213,773 shares of the company’s stock valued at $2,204,000 after purchasing an additional 101,136 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

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.