Analysts Set NeuroPace, Inc. (NASDAQ:NPCE) Target Price at $14.00

NeuroPace, Inc. (NASDAQ:NPCE) has been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $15.00.

A number of brokerages recently weighed in on NPCE. Wells Fargo & Company cut their price target on shares of NeuroPace from $20.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $18.00 target price on shares of NeuroPace in a research report on Wednesday, August 14th. Finally, Morgan Stanley lowered their price target on shares of NeuroPace from $9.50 to $8.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th.

NeuroPace Stock Up 11.6 %

NeuroPace stock opened at $7.80 on Thursday. NeuroPace has a fifty-two week low of $5.45 and a fifty-two week high of $18.15. The company has a debt-to-equity ratio of 5.97, a quick ratio of 5.47 and a current ratio of 6.37. The firm’s 50-day simple moving average is $6.83 and its 200 day simple moving average is $7.70. The stock has a market cap of $227.76 million, a PE ratio of -7.16 and a beta of 1.79.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, August 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.03. The company had revenue of $19.26 million during the quarter, compared to analyst estimates of $18.30 million. NeuroPace had a negative return on equity of 195.26% and a negative net margin of 41.63%. NeuroPace’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.36) earnings per share. Research analysts predict that NeuroPace will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other NeuroPace news, major shareholder Ltd. Kck sold 4,031 shares of NeuroPace stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $6.54, for a total transaction of $26,362.74. Following the completion of the transaction, the insider now owns 5,521,874 shares of the company’s stock, valued at $36,113,055.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 257,590 shares of company stock valued at $1,437,916. Corporate insiders own 22.20% of the company’s stock.

Institutional Investors Weigh In On NeuroPace

A number of institutional investors and hedge funds have recently made changes to their positions in NPCE. Rhumbline Advisers bought a new position in NeuroPace in the 2nd quarter worth about $111,000. Financial Advocates Investment Management increased its position in shares of NeuroPace by 50.0% in the second quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock worth $113,000 after purchasing an additional 5,000 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in NeuroPace in the first quarter valued at approximately $155,000. XTX Topco Ltd lifted its position in NeuroPace by 56.1% during the second quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock valued at $182,000 after purchasing an additional 8,643 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in NeuroPace in the 2nd quarter worth approximately $257,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

NeuroPace Company Profile

NeuroPace, Inc operates as a medical device company in the United States. The company develops RNS system, a brain-responsive neuromodulation system that delivers personalized, real-time treatment at the seizure source for treating medically refractory focal epilepsy. It also records continuous brain activity data and enables clinicians to monitor patients in person and remotely.