Brokerages Set NeuroPace, Inc. (NASDAQ:NPCE) PT at $18.50

NeuroPace, Inc. (NASDAQ:NPCE) has earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $18.50.

NPCE has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a research note on Monday, December 29th. Leerink Partners reiterated an “outperform” rating and issued a $19.00 price objective on shares of NeuroPace in a research note on Wednesday, November 5th. UBS Group reissued a “buy” rating on shares of NeuroPace in a report on Wednesday, January 14th. JPMorgan Chase & Co. boosted their price target on NeuroPace from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Finally, Wells Fargo & Company upped their price target on NeuroPace from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th.

NeuroPace Stock Performance

NPCE opened at $17.04 on Friday. The stock’s 50 day simple moving average is $15.99 and its 200-day simple moving average is $12.05. The company has a current ratio of 4.86, a quick ratio of 3.94 and a debt-to-equity ratio of 3.17. The stock has a market cap of $567.60 million, a PE ratio of -22.42 and a beta of 1.85. NeuroPace has a 1 year low of $7.56 and a 1 year high of $18.98.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. NeuroPace had a negative net margin of 25.28% and a negative return on equity of 136.60%. The firm had revenue of $27.35 million for the quarter, compared to the consensus estimate of $24.64 million. Sell-side analysts forecast that NeuroPace will post -1 EPS for the current year.

Hedge Funds Weigh In On NeuroPace

Several institutional investors have recently added to or reduced their stakes in NPCE. Vanguard Group Inc. grew its stake in NeuroPace by 4.9% during the third quarter. Vanguard Group Inc. now owns 1,435,850 shares of the company’s stock worth $14,804,000 after buying an additional 66,574 shares during the last quarter. Armistice Capital LLC boosted its holdings in shares of NeuroPace by 12.6% in the 3rd quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock worth $13,382,000 after acquiring an additional 145,665 shares in the last quarter. Geode Capital Management LLC grew its position in NeuroPace by 44.6% during the 2nd quarter. Geode Capital Management LLC now owns 485,162 shares of the company’s stock worth $5,406,000 after acquiring an additional 149,595 shares during the last quarter. Divisadero Street Capital Management LP grew its position in NeuroPace by 20.9% during the 3rd quarter. Divisadero Street Capital Management LP now owns 292,792 shares of the company’s stock worth $3,019,000 after acquiring an additional 50,672 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its holdings in NeuroPace by 194.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 216,722 shares of the company’s stock valued at $2,234,000 after purchasing an additional 143,063 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

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.