NeuroPace (NASDAQ:NPCE) Now Covered by Analysts at Mizuho

Mizuho initiated coverage on shares of NeuroPace (NASDAQ:NPCE) in a research report report published on Thursday morning, MarketBeat.com reports. The firm issued an outperform rating and a $22.00 price objective on the stock.

A number of other analysts also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a research note on Wednesday, June 24th. HC Wainwright boosted their price target on shares of NeuroPace from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.29.

NeuroPace Trading Up 0.7%

Shares of NeuroPace stock opened at $14.68 on Thursday. The company has a debt-to-equity ratio of 4.08, a current ratio of 5.38 and a quick ratio of 4.35. The stock’s 50 day simple moving average is $16.13 and its 200-day simple moving average is $15.63. The stock has a market cap of $500.44 million, a P/E ratio of -22.58 and a beta of 1.88. NeuroPace has a 1-year low of $7.56 and a 1-year high of $19.60.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm had revenue of $22.00 million during the quarter, compared to analysts’ expectations of $21.65 million. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%. Analysts predict that NeuroPace will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NPCE. First Light Asset Management LLC lifted its stake in shares of NeuroPace by 82.3% in the 1st quarter. First Light Asset Management LLC now owns 2,459,966 shares of the company’s stock valued at $32,349,000 after purchasing an additional 1,110,484 shares during the last quarter. Kotler Kevin acquired a new stake in shares of NeuroPace during the 4th quarter worth about $9,750,000. Walleye Capital LLC increased its position in shares of NeuroPace by 344.6% during the 4th quarter. Walleye Capital LLC now owns 228,847 shares of the company’s stock worth $3,533,000 after purchasing an additional 177,375 shares during the last quarter. Geode Capital Management LLC raised its holdings in NeuroPace by 44.6% in the 2nd quarter. Geode Capital Management LLC now owns 485,162 shares of the company’s stock valued at $5,406,000 after buying an additional 149,595 shares during the period. Finally, Armistice Capital LLC raised its holdings in NeuroPace by 12.6% in the 3rd quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock valued at $13,382,000 after buying an additional 145,665 shares during the period. 78.83% of the stock is currently owned by hedge funds and other 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.