NeuroPace (NASDAQ:NPCE) Raised to Strong-Buy at Cantor Fitzgerald

NeuroPace (NASDAQ:NPCE) was upgraded by equities researchers at Cantor Fitzgerald to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

NPCE has been the subject of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research note on Monday, December 29th. Wells Fargo & Company increased their price target on shares of NeuroPace from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. upped their target price on shares of NeuroPace from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. HC Wainwright increased their target price on shares of NeuroPace from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, UBS Group restated a “buy” rating on shares of NeuroPace in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NeuroPace currently has an average rating of “Moderate Buy” and a consensus price target of $18.67.

NeuroPace Stock Down 2.5%

NeuroPace stock opened at $13.60 on Wednesday. The firm has a 50 day simple moving average of $15.58 and a 200 day simple moving average of $13.27. The company has a current ratio of 5.28, a quick ratio of 3.94 and a debt-to-equity ratio of 3.09. NeuroPace has a 1-year low of $7.56 and a 1-year high of $18.98. The firm has a market capitalization of $457.91 million, a price-to-earnings ratio of -20.61 and a beta of 1.86.

NeuroPace (NASDAQ:NPCE) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.06. The firm had revenue of $26.59 million for the quarter, compared to the consensus estimate of $24.79 million. NeuroPace had a negative return on equity of 105.67% and a negative net margin of 21.47%. On average, analysts predict that NeuroPace will post -1 earnings per share for the current year.

Hedge Funds Weigh In On NeuroPace

A number of hedge funds and other institutional investors have recently bought and sold shares of NPCE. Invesco Ltd. purchased a new stake in shares of NeuroPace during the 4th quarter valued at $184,000. XTX Topco Ltd increased its stake in NeuroPace by 209.1% in the fourth quarter. XTX Topco Ltd now owns 33,975 shares of the company’s stock valued at $525,000 after acquiring an additional 22,983 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in NeuroPace by 25.8% in the fourth quarter. Tudor Investment Corp ET AL now owns 193,346 shares of the company’s stock valued at $2,985,000 after acquiring an additional 39,648 shares during the last quarter. Numerai GP LLC purchased a new stake in NeuroPace during the fourth quarter valued at about $452,000. Finally, Millennium Management LLC bought a new stake in NeuroPace during the fourth quarter worth about $1,447,000. Hedge funds and other institutional investors 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.