NeuroPace, Inc. (NASDAQ:NPCE) Receives $18.83 Consensus PT from Brokerages

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have received an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $18.8333.

NPCE has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of NeuroPace in a research report on Friday, March 27th. HC Wainwright upped 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. Cantor Fitzgerald upgraded shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 4th. Wells Fargo & Company upgraded shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Wall Street Zen lowered shares of NeuroPace from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th.

Institutional Trading of NeuroPace

Several hedge funds and other institutional investors have recently bought and sold shares of NPCE. Geode Capital Management LLC lifted its position in NeuroPace by 44.6% in the second quarter. Geode Capital Management LLC now owns 485,162 shares of the company’s stock valued at $5,406,000 after purchasing an additional 149,595 shares during the last quarter. Legal & General Group Plc increased its position in shares of NeuroPace by 86.0% in the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after acquiring an additional 1,239 shares during the period. Rhumbline Advisers increased its position in shares of NeuroPace by 114.5% in the second quarter. Rhumbline Advisers now owns 36,956 shares of the company’s stock valued at $412,000 after acquiring an additional 19,729 shares during the period. Russell Investments Group Ltd. increased its position in shares of NeuroPace by 59.1% in the second quarter. Russell Investments Group Ltd. now owns 71,463 shares of the company’s stock valued at $796,000 after acquiring an additional 26,547 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of NeuroPace in the second quarter valued at about $35,000. Institutional investors own 78.83% of the company’s stock.

NeuroPace Stock Up 2.3%

Shares of NASDAQ NPCE opened at $17.06 on Thursday. NeuroPace has a one year low of $7.56 and a one year high of $19.60. 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 firm’s 50 day simple moving average is $15.49 and its two-hundred day simple moving average is $15.43. The stock has a market capitalization of $581.58 million, a P/E ratio of -26.25 and a beta of 1.92.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. NeuroPace had a negative net margin of 21.67% and a negative return on equity of 108.20%. The business had revenue of $22.00 million for the quarter, compared to analysts’ expectations of $21.65 million. As a group, analysts expect that NeuroPace will post -0.5 EPS for the current fiscal year.

About NeuroPace

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.