Brokerages Set NeuroPace, Inc. (NASDAQ:NPCE) Target Price at $18.67

NeuroPace, Inc. (NASDAQ:NPCE) has been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $18.6667.

NPCE has been the topic of a number of recent research reports. HC Wainwright raised their price objective on shares of NeuroPace from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. UBS Group reissued a “buy” rating on shares of NeuroPace in a research report on Wednesday, January 14th. Wall Street Zen lowered shares of NeuroPace from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a research report on Friday, March 27th. Finally, Cantor Fitzgerald upgraded NeuroPace to a “strong-buy” rating in a research note on Wednesday, March 4th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NPCE. Invesco Ltd. purchased a new stake in NeuroPace in the 4th quarter valued at $184,000. XTX Topco Ltd boosted its holdings in NeuroPace by 209.1% during the 4th quarter. XTX Topco Ltd now owns 33,975 shares of the company’s stock worth $525,000 after acquiring an additional 22,983 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in NeuroPace by 25.8% during the 4th quarter. Tudor Investment Corp ET AL now owns 193,346 shares of the company’s stock worth $2,985,000 after acquiring an additional 39,648 shares during the last quarter. Numerai GP LLC bought a new stake in shares of NeuroPace in the 4th quarter worth $452,000. Finally, Millennium Management LLC bought a new stake in shares of NeuroPace in the 4th quarter worth $1,447,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

NeuroPace Price Performance

Shares of NASDAQ:NPCE opened at $14.65 on Wednesday. The company has a quick ratio of 4.33, a current ratio of 5.28 and a debt-to-equity ratio of 3.09. NeuroPace has a twelve month low of $7.56 and a twelve month high of $18.98. The stock’s 50 day moving average is $14.49 and its 200-day moving average is $13.93. The firm has a market capitalization of $493.27 million, a price-to-earnings ratio of -22.20 and a beta of 1.87.

NeuroPace (NASDAQ:NPCE) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. The company had revenue of $26.59 million for the quarter, compared to analysts’ expectations 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.

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.