NeuroPace (NASDAQ:NPCE) Rating Lowered to Hold at Wall Street Zen

NeuroPace (NASDAQ:NPCE) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Other equities research analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a report on Monday, December 29th. HC Wainwright increased their target price on shares of NeuroPace from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. JPMorgan Chase & Co. boosted their price target on shares of NeuroPace from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Cantor Fitzgerald upgraded shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 4th. Finally, UBS Group reaffirmed a “buy” rating on shares of NeuroPace in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

NeuroPace Price Performance

Shares of NeuroPace stock opened at $14.19 on Friday. The firm has a market capitalization of $477.78 million, a PE ratio of -21.50 and a beta of 1.86. The company has a current ratio of 5.28, a quick ratio of 4.33 and a debt-to-equity ratio of 3.09. NeuroPace has a 12 month low of $7.56 and a 12 month high of $18.98. The business’s 50-day moving average price is $15.39 and its 200-day moving average price is $13.60.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, March 3rd. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. The company had revenue of $26.59 million during the quarter, compared to the consensus estimate of $24.79 million. NeuroPace had a negative return on equity of 105.67% and a negative net margin of 21.47%. Sell-side analysts forecast that NeuroPace will post -1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Divisadero Street Capital Management LP boosted its position in NeuroPace by 529.2% during the 2nd quarter. Divisadero Street Capital Management LP now owns 242,120 shares of the company’s stock valued at $2,697,000 after buying an additional 203,640 shares during the period. Panagora Asset Management Inc. purchased a new position in shares of NeuroPace in the second quarter valued at about $1,112,000. Essex Investment Management Co. LLC increased its position in shares of NeuroPace by 194.2% in the third quarter. Essex Investment Management Co. LLC now owns 216,722 shares of the company’s stock valued at $2,234,000 after acquiring an additional 143,063 shares during the period. Legato Capital Management LLC raised its stake in shares of NeuroPace by 190.2% during the third quarter. Legato Capital Management LLC now owns 63,045 shares of the company’s stock valued at $650,000 after acquiring an additional 41,323 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of NeuroPace during the second quarter worth about $173,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

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.