NeuroPace, Inc. (NASDAQ:NPCE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have received an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $18.8333.

A number of equities research analysts have issued reports on the stock. HC Wainwright increased their price objective on shares of NeuroPace from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wells Fargo & Company raised NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a research report on Wednesday, June 24th.

Hedge Funds Weigh In On NeuroPace

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First Light Asset Management LLC grew its stake in NeuroPace by 82.3% in the 1st quarter. First Light Asset Management LLC now owns 2,459,966 shares of the company’s stock valued at $32,349,000 after acquiring an additional 1,110,484 shares during the period. Kotler Kevin acquired a new stake in NeuroPace during the fourth quarter worth $9,750,000. Walleye Capital LLC grew its stake in shares of NeuroPace by 344.6% in the fourth quarter. Walleye Capital LLC now owns 228,847 shares of the company’s stock valued at $3,533,000 after buying an additional 177,375 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of NeuroPace by 44.6% in the second 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 in the last quarter. Finally, Armistice Capital LLC lifted its stake in NeuroPace by 12.6% in the third 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 during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

NeuroPace Price Performance

Shares of NASDAQ:NPCE opened at $15.84 on Friday. NeuroPace has a fifty-two week low of $7.56 and a fifty-two week high of $19.60. The business has a 50-day simple moving average of $16.32 and a two-hundred day simple moving average of $15.63. The company has a debt-to-equity ratio of 4.08, a quick ratio of 4.35 and a current ratio of 5.38. The firm has a market cap of $539.99 million, a price-to-earnings ratio of -24.37 and a beta of 1.88.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $22.00 million during the quarter, compared to the consensus estimate of $21.65 million. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%. On average, analysts expect that NeuroPace will post -0.54 earnings per share for the current 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.