Wall Street Zen Upgrades NeuroPace (NASDAQ:NPCE) to Buy

NeuroPace (NASDAQ:NPCE) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other research firms have also weighed in on NPCE. JPMorgan Chase & Co. lifted their price objective on shares of NeuroPace from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Cantor Fitzgerald upgraded shares of NeuroPace to a “strong-buy” rating in a report on Wednesday, March 4th. HC Wainwright lifted their price target on shares of NeuroPace from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a report on Monday, December 29th. Finally, UBS Group restated a “buy” rating on shares of NeuroPace in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.67.

NeuroPace Trading Up 3.2%

NASDAQ:NPCE opened at $14.03 on Friday. NeuroPace has a 1-year low of $7.56 and a 1-year high of $18.98. The business’s 50-day moving average price is $15.54 and its two-hundred day moving average price is $13.38. The company has a current ratio of 5.28, a quick ratio of 4.33 and a debt-to-equity ratio of 3.09. The firm has a market capitalization of $472.39 million, a price-to-earnings ratio of -21.26 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 company had revenue of $26.59 million during the quarter, compared to analyst estimates of $24.79 million. NeuroPace had a negative return on equity of 105.67% and a negative net margin of 21.47%. On average, equities analysts expect that NeuroPace will post -1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its holdings in shares of NeuroPace by 83.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company’s stock valued at $27,000 after purchasing an additional 1,118 shares in the last quarter. Legal & General Group Plc boosted its position in shares of NeuroPace by 86.0% during the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock worth $30,000 after buying an additional 1,239 shares during the period. GSA Capital Partners LLP grew its holdings in shares of NeuroPace by 2.5% during the third quarter. GSA Capital Partners LLP now owns 54,536 shares of the company’s stock worth $562,000 after buying an additional 1,323 shares in the last quarter. Quarry LP grew its holdings in shares of NeuroPace by 94.9% during the third quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after buying an additional 1,872 shares in the last quarter. Finally, Man Group plc raised its position in NeuroPace by 9.7% in the 4th quarter. Man Group plc now owns 21,626 shares of the company’s stock valued at $334,000 after buying an additional 1,920 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

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.