NeuroPace, Inc. (NASDAQ:NPCE) Stock Has Consensus Target Price of $20.50 According to Brokerages

NeuroPace, Inc. (NASDAQ:NPCE) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.50.

Several research firms have commented on NPCE. Weiss Ratings lowered shares of NeuroPace from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. Cantor Fitzgerald restated an “overweight” rating on shares of NeuroPace in a research note on Tuesday, September 15th. Raymond James Financial set a $21.00 target price on NeuroPace in a research note on Tuesday, September 15th. Guggenheim reaffirmed a “neutral” rating on shares of NeuroPace in a report on Wednesday, July 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of NeuroPace in a research report on Wednesday, July 29th.

NeuroPace Stock Down 1.3%

NPCE opened at $12.52 on Thursday. The company has a debt-to-equity ratio of 4.97, a current ratio of 4.94 and a quick ratio of 3.91. The company’s 50-day moving average is $13.41 and its 200 day moving average is $14.81. NeuroPace has a fifty-two week low of $12.00 and a fifty-two week high of $19.60. The firm has a market capitalization of $429.74 million, a P/E ratio of -21.96 and a beta of 1.98.

NeuroPace (NASDAQ:NPCE) last released its quarterly 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 net margin of 19.34% and a negative return on equity of 105.64%. The business had revenue of $22.83 million for the quarter, compared to analysts’ expectations of $22.61 million. Research analysts expect that NeuroPace will post -0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc purchased a new stake in shares of NeuroPace during the 2nd quarter valued at $41,000. Diversified Trust Co bought a new stake in shares of NeuroPace during the 3rd quarter worth $153,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of NeuroPace in the 2nd quarter worth about $157,000. Bank of America Corp DE purchased a new position in shares of NeuroPace in the 2nd quarter worth about $322,000. Finally, Canada Pension Plan Investment Board bought a new position in NeuroPace during the second quarter valued at about $351,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.