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

NeuroPace, Inc. (NASDAQ:NPCE) has been given an average rating of “Moderate Buy” by the eight analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $18.6667.

A number of equities research analysts have commented on NPCE shares. HC Wainwright increased their price target on NeuroPace from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Cantor Fitzgerald upgraded NeuroPace to a “strong-buy” rating in a research note on Wednesday, March 4th. UBS Group restated a “buy” rating on shares of NeuroPace in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a research report on Friday. Finally, JPMorgan Chase & Co. boosted 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.

NeuroPace Price Performance

Shares of NPCE opened at $13.15 on Wednesday. The company has a 50 day moving average of $14.63 and a two-hundred day moving average of $13.89. 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 has a twelve month low of $7.56 and a twelve month high of $18.98. The company has a market cap of $442.76 million, a price-to-earnings ratio of -19.92 and a beta of 1.86.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. The business 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%. As a group, analysts predict that NeuroPace will post -1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeuroPace

Several hedge funds have recently made changes to their positions in NPCE. Kotler Kevin purchased a new position in NeuroPace in the 4th quarter worth $9,750,000. Divisadero Street Capital Management LP increased its holdings in shares of NeuroPace by 529.2% in the second quarter. Divisadero Street Capital Management LP now owns 242,120 shares of the company’s stock valued at $2,697,000 after purchasing an additional 203,640 shares during the period. Walleye Capital LLC increased its holdings in shares of NeuroPace by 344.6% in the fourth quarter. Walleye Capital LLC now owns 228,847 shares of the company’s stock valued at $3,533,000 after purchasing an additional 177,375 shares during the period. Geode Capital Management LLC raised its stake in shares of NeuroPace by 44.6% in the second 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 during the last quarter. Finally, Armistice Capital LLC lifted its holdings in shares of NeuroPace by 12.6% during the third 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. 78.83% of the stock is owned by institutional investors and hedge funds.

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.