NeuroPace (NASDAQ:NPCE) Stock Rating Lowered by Wall Street Zen

NeuroPace (NASDAQ:NPCE) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

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

NeuroPace Trading Down 0.2%

NASDAQ:NPCE opened at $14.09 on Friday. The stock has a market capitalization of $474.41 million, a price-to-earnings ratio of -21.35 and a beta of 1.86. 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 fifty day simple moving average of $15.42 and a two-hundred day simple moving average of $13.53. NeuroPace has a 12 month low of $7.56 and a 12 month high of $18.98.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.08) 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%. Analysts expect that NeuroPace will post -1 EPS for the current fiscal year.

Hedge Funds Weigh In On NeuroPace

Institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. bought a new stake in NeuroPace in the fourth quarter worth $184,000. XTX Topco Ltd boosted its position in NeuroPace by 209.1% during the fourth quarter. XTX Topco Ltd now owns 33,975 shares of the company’s stock valued at $525,000 after buying an additional 22,983 shares during the period. Tudor Investment Corp ET AL grew its stake in shares of NeuroPace by 25.8% during the fourth quarter. Tudor Investment Corp ET AL now owns 193,346 shares of the company’s stock valued at $2,985,000 after buying an additional 39,648 shares during the last quarter. Numerai GP LLC purchased a new position in shares of NeuroPace in the fourth quarter worth about $452,000. Finally, Millennium Management LLC purchased a new position in shares of NeuroPace in the fourth quarter worth about $1,447,000. 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.