NeuroPace, Inc. (NASDAQ:NPCE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.67.

Several brokerages have commented on NPCE. SVB Leerink began coverage on shares of NeuroPace in a report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 target price on the stock. Cantor Fitzgerald raised their price target on shares of NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Leerink Partnrs reaffirmed an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. Morgan Stanley raised their price target on shares of NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company raised shares of NeuroPace from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $16.00 to $20.00 in a research note on Thursday, March 14th.

Insider Activity at NeuroPace

In related news, insider Martha Morrell sold 1,923 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $15.08, for a total value of $28,998.84. Following the completion of the transaction, the insider now directly owns 96,014 shares of the company’s stock, valued at $1,447,891.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Orbimed Advisors Llc sold 2,623 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $14.06, for a total value of $36,879.38. Following the completion of the transaction, the insider now directly owns 3,501,975 shares of the company’s stock, valued at $49,237,768.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Martha Morrell sold 1,923 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $15.08, for a total transaction of $28,998.84. Following the completion of the transaction, the insider now directly owns 96,014 shares of the company’s stock, valued at $1,447,891.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 481,341 shares of company stock valued at $6,968,331. 27.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NeuroPace

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. bought a new position in NeuroPace during the third quarter worth $29,000. Virtu Financial LLC bought a new position in NeuroPace during the fourth quarter worth $111,000. Barclays PLC boosted its position in NeuroPace by 9,085.6% during the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock worth $105,000 after purchasing an additional 10,721 shares during the period. Renaissance Technologies LLC bought a new position in NeuroPace during the second quarter worth $63,000. Finally, Susquehanna International Group LLP bought a new position in NeuroPace during the first quarter worth $65,000. 78.83% of the stock is owned by institutional investors.

NeuroPace Stock Performance

Shares of NPCE stock opened at $14.00 on Friday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 5.02 and a current ratio of 5.71. The company has a market capitalization of $367.92 million, a P/E ratio of -10.94 and a beta of 2.08. The company’s 50 day moving average price is $14.53 and its two-hundred day moving average price is $11.36. NeuroPace has a 52 week low of $3.80 and a 52 week high of $18.15.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, March 5th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.10. The firm had revenue of $18.01 million for the quarter, compared to the consensus estimate of $17.74 million. NeuroPace had a negative net margin of 50.38% and a negative return on equity of 153.76%. On average, analysts expect that NeuroPace will post -1.14 earnings per share for the current fiscal year.

About NeuroPace

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.