NeuroPace, Inc. (NASDAQ:NPCE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $19.2857.

NPCE has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of NeuroPace in a research report on Wednesday, July 29th. Mizuho assumed coverage on NeuroPace in a report on Thursday, July 23rd. They set an “outperform” rating and a $22.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research note on Wednesday, June 24th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of NeuroPace in a report on Wednesday, July 29th.

NeuroPace Trading Up 4.7%

NPCE stock opened at $13.50 on Tuesday. NeuroPace has a 1-year low of $7.56 and a 1-year high of $19.60. The company has a current ratio of 5.38, a quick ratio of 4.35 and a debt-to-equity ratio of 4.08. The business’s 50 day moving average is $15.84 and its 200-day moving average is $15.51. The firm has a market cap of $460.21 million, a P/E ratio of -20.77 and a beta of 1.92.

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

Hedge Funds Weigh In On NeuroPace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted 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 buying an additional 149,595 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of NeuroPace by 86.0% during the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock worth $30,000 after buying an additional 1,239 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of NeuroPace by 114.5% during the second quarter. Rhumbline Advisers now owns 36,956 shares of the company’s stock worth $412,000 after buying an additional 19,729 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of NeuroPace by 59.1% during the second quarter. Russell Investments Group Ltd. now owns 71,463 shares of the company’s stock worth $796,000 after buying an additional 26,547 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of NeuroPace in the second quarter valued at approximately $35,000. 78.83% of the stock is currently 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.