Wells Fargo & Company Upgrades NeuroPace (NASDAQ:NPCE) to Strong-Buy

NeuroPace (NASDAQ:NPCE) was upgraded by research analysts at Wells Fargo & Company to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently commented on NPCE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a research report on Monday, December 29th. HC Wainwright increased their price objective on shares of NeuroPace from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Cantor Fitzgerald upgraded shares of NeuroPace to a “strong-buy” rating in a research note on Wednesday, March 4th. UBS Group reaffirmed a “buy” rating on shares of NeuroPace in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of NeuroPace from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.67.

NeuroPace Price Performance

NASDAQ:NPCE opened at $13.13 on Wednesday. NeuroPace has a 12-month low of $7.56 and a 12-month high of $18.98. The firm has a market capitalization of $442.09 million, a price-to-earnings ratio of -19.89 and a beta of 1.86. The stock’s 50 day moving average price is $15.20 and its two-hundred day moving average price is $13.63. The company has a quick ratio of 4.33, a current ratio of 5.28 and a debt-to-equity ratio of 3.09.

NeuroPace (NASDAQ:NPCE) last issued its earnings results 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 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 anticipate that NeuroPace will post -1 earnings per share for the current year.

Institutional Trading of NeuroPace

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. acquired a new stake in shares of NeuroPace during the 4th quarter worth $184,000. XTX Topco Ltd raised 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 purchasing an additional 22,983 shares in the last quarter. Tudor Investment Corp ET AL raised 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 purchasing an additional 39,648 shares in the last quarter. Numerai GP LLC bought a new stake in NeuroPace during the fourth quarter worth about $452,000. Finally, Millennium Management LLC bought a new stake in NeuroPace during the fourth quarter worth about $1,447,000. 78.83% of the stock is currently owned by institutional investors.

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.