NeuroPace (NASDAQ:NPCE) Upgraded to Strong-Buy at KeyCorp

KeyCorp upgraded shares of NeuroPace (NASDAQ:NPCE) to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks reports.

Other analysts also recently issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of NeuroPace in a research report on Wednesday, July 29th. Guggenheim reissued a “neutral” rating on shares of NeuroPace in a research report on Wednesday, July 29th. Cantor Fitzgerald restated an “overweight” rating on shares of NeuroPace in a research note on Tuesday. Raymond James Financial set a $21.00 price target on shares of NeuroPace in a research note on Tuesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

NeuroPace Trading Up 0.9%

NASDAQ:NPCE opened at $14.28 on Thursday. The business’s 50-day moving average is $14.64 and its two-hundred day moving average is $15.24. The company has a debt-to-equity ratio of 4.97, a current ratio of 4.94 and a quick ratio of 3.91. NeuroPace has a 12 month low of $9.22 and a 12 month high of $19.60. The firm has a market capitalization of $490.09 million, a PE ratio of -25.05 and a beta of 1.94.

NeuroPace (NASDAQ:NPCE) last issued its earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.04. NeuroPace had a negative return on equity of 105.64% and a negative net margin of 19.34%.The company had revenue of $22.83 million during the quarter, compared to the consensus estimate of $22.61 million. Research analysts predict that NeuroPace will post -0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NPCE. First Light Asset Management LLC raised its stake in shares of NeuroPace by 16.3% in the 2nd quarter. First Light Asset Management LLC now owns 2,861,167 shares of the company’s stock valued at $45,464,000 after purchasing an additional 401,201 shares in the last quarter. Bank of America Corp DE acquired a new position in NeuroPace in the second quarter worth about $322,000. Man Group plc acquired a new position in NeuroPace in the second quarter worth about $1,336,000. Hsbc Holdings PLC bought a new stake in NeuroPace in the second quarter valued at about $420,000. Finally, Canada Pension Plan Investment Board bought a new stake in NeuroPace in the second quarter valued at about $351,000. 78.83% of the stock is currently owned by institutional investors.

About NeuroPace

NeuroPace, Inc is a medical technology company focused on developing therapies for people with drug-resistant epilepsy. The company’s principal product is the RNS System, an implantable responsive neurostimulation device designed to monitor brain activity, identify patterns associated with seizures, and deliver targeted electrical stimulation intended to reduce seizure frequency.

The RNS System includes an implanted neurostimulator, leads placed near seizure-producing areas of the brain, and external software and programming tools used by clinicians.