NeuroPace (NASDAQ:NPCE) Given New $14.00 Price Target at KeyCorp

NeuroPace (NASDAQ:NPCE) had its price target cut by KeyCorp from $18.00 to $14.00 in a research report sent to investors on Friday morning, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on NPCE. JPMorgan Chase & Co. cut shares of NeuroPace from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $9.00 in a report on Friday. Guggenheim reissued a “neutral” rating on shares of NeuroPace in a research report on Wednesday, July 29th. Raymond James Financial set a $21.00 target price on NeuroPace in a report on Tuesday, September 15th. Weiss Ratings lowered NeuroPace from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. Finally, Leerink Partners cut NeuroPace from an “outperform” rating to a “market perform” rating and set a $7.00 price target for the company. in a research report on Friday. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.50.

NeuroPace Stock Down 37.1%

Shares of NPCE traded down $4.46 during mid-day trading on Friday, hitting $7.56. 6,104,874 shares of the company’s stock were exchanged, compared to its average volume of 127,272. The firm has a fifty day moving average of $13.21 and a two-hundred day moving average of $14.75. NeuroPace has a twelve month low of $5.46 and a twelve month high of $19.60. The stock has a market cap of $259.46 million, a price-to-earnings ratio of -13.50 and a beta of 1.98. The company has a quick ratio of 3.91, a current ratio of 4.94 and a debt-to-equity ratio of 4.97.

Hedge Funds Weigh In On NeuroPace

A number of institutional investors have recently modified their holdings of NPCE. Legal & General Group Plc bought a new stake in shares of NeuroPace in the second quarter valued at about $41,000. Algert Global LLC grew its position in NeuroPace by 2.9% during the second quarter. Algert Global LLC now owns 184,774 shares of the company’s stock worth $2,936,000 after buying an additional 5,218 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in NeuroPace during the second quarter valued at about $157,000. Lazard Asset Management LLC increased its stake in NeuroPace by 9.8% during the first quarter. Lazard Asset Management LLC now owns 124,305 shares of the company’s stock valued at $1,635,000 after acquiring an additional 11,078 shares during the period. Finally, Diversified Trust Co bought a new position in NeuroPace during the third quarter valued at about $153,000. Institutional investors own 78.83% of the company’s stock.

Recent NeuroPace Headlines

Here are a few of the latest headlines about NPCE:

• Positive Sentiment: NeuroPace reported a Q3 loss of $0.03 per share, improved from a $0.11 loss a year earlier and better than analyst estimates. Zacks Q3 earnings report
• Negative Sentiment: Q3 revenue was $23.1 million, below the cited $27.1 million analyst estimate. Revenue from the company’s RNS System grew just 1.4% year over year, signaling limited near-term growth. NeuroPace Q3 results and guidance
• Negative Sentiment: Analyst actions added pressure: JPMorgan cut its rating to neutral and lowered its target from $20 to $9; Wells Fargo and Leerink Partners also downgraded the shares. KeyCorp maintained an overweight rating but cut its target from $18 to $14. Analyst rating changes

About NeuroPace

NeuroPace, Inc. is a medical technology company focused on treating people with drug-resistant epilepsy. Its primary product is the RNS System, an implanted responsive neurostimulation device designed to detect patterns of abnormal electrical activity in the brain and deliver stimulation in response. The RNS System includes a neurostimulator implanted in the skull and leads placed in or near seizure-onset areas of the brain. Clinicians use the system to review brain activity and adjust treatment, while patients can use accompanying tools to record information about their seizures and share it with their care team.