HC Wainwright Reaffirms Buy Rating for NeuroPace (NASDAQ:NPCE)

NeuroPace (NASDAQ:NPCE)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $20.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 30.63% from the stock’s previous close.

Several other equities research analysts also recently weighed in on NPCE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th. Mizuho initiated coverage on shares of NeuroPace in a research note on Thursday, July 23rd. They issued an “outperform” rating and a $22.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

NeuroPace Stock Performance

NASDAQ NPCE opened at $15.31 on Wednesday. The firm has a market cap of $521.92 million, a P/E ratio of -23.55 and a beta of 1.88. NeuroPace has a 52-week low of $7.56 and a 52-week high of $19.60. The business’s 50-day moving average price is $16.10 and its 200 day moving average price is $15.60. The company has a quick ratio of 4.35, a current ratio of 5.38 and a debt-to-equity ratio of 4.08.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $21.65 million. On average, equities research analysts expect that NeuroPace will post -0.54 earnings per share for the current year.

Institutional Trading of NeuroPace

Several hedge funds have recently modified their holdings of the business. First Light Asset Management LLC grew its holdings in NeuroPace by 82.3% during the first quarter. First Light Asset Management LLC now owns 2,459,966 shares of the company’s stock worth $32,349,000 after acquiring an additional 1,110,484 shares during the period. Lazard Asset Management LLC increased its holdings in shares of NeuroPace by 9.8% in the 1st quarter. Lazard Asset Management LLC now owns 124,305 shares of the company’s stock valued at $1,635,000 after purchasing an additional 11,078 shares in the last quarter. Sei Investments Co. lifted its stake in shares of NeuroPace by 51.4% in the first quarter. Sei Investments Co. now owns 121,476 shares of the company’s stock valued at $1,597,000 after purchasing an additional 41,233 shares during the period. SG Americas Securities LLC boosted its holdings in NeuroPace by 52.9% during the first quarter. SG Americas Securities LLC now owns 11,640 shares of the company’s stock worth $153,000 after buying an additional 4,029 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in NeuroPace during the fourth quarter worth about $184,000. 78.83% of the stock is owned by institutional investors and hedge funds.

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.