NeuroPace (NASDAQ:NPCE) Coverage Initiated at Mizuho

Equities researchers at Mizuho assumed coverage on shares of NeuroPace (NASDAQ:NPCE) in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage set an “outperform” rating and a $22.00 price target on the stock. Mizuho’s price target points to a potential upside of 50.89% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. HC Wainwright boosted their target price on shares of NeuroPace from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, NeuroPace has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

NeuroPace Trading Down 5.7%

Shares of NASDAQ:NPCE opened at $14.58 on Thursday. NeuroPace has a 12-month low of $7.56 and a 12-month high of $19.60. The business’s fifty day simple moving average is $16.15 and its 200-day simple moving average is $15.63. The company has a market capitalization of $497.03 million, a PE ratio of -22.43 and a beta of 1.88. The company has a current ratio of 5.38, a quick ratio of 4.35 and a debt-to-equity ratio of 4.08.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%.The firm had revenue of $22.00 million during the quarter, compared to analysts’ expectations of $21.65 million. As a group, equities research analysts predict that NeuroPace will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeuroPace

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

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.