NeuroPace (NASDAQ:NPCE) Announces Earnings Results, Beats Expectations By $0.08 EPS

NeuroPace (NASDAQ:NPCE) released its quarterly earnings data on Tuesday. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.08, FiscalAI reports. The company had revenue of $26.59 million during the quarter, compared to the consensus estimate of $24.79 million. NeuroPace had a negative net margin of 25.28% and a negative return on equity of 136.60%.

NeuroPace Stock Performance

NPCE traded down $0.32 during trading on Tuesday, reaching $13.83. The company’s stock had a trading volume of 257,611 shares, compared to its average volume of 205,800. The company has a debt-to-equity ratio of 3.17, a quick ratio of 3.94 and a current ratio of 4.86. The company’s fifty day moving average price is $15.73 and its 200-day moving average price is $13.22. NeuroPace has a 52-week low of $7.56 and a 52-week high of $18.98. The company has a market capitalization of $460.65 million, a price-to-earnings ratio of -18.20 and a beta of 1.85.

Hedge Funds Weigh In On NeuroPace

A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc grew its holdings in NeuroPace by 86.0% during the 2nd quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after buying an additional 1,239 shares during the last quarter. Quantbot Technologies LP acquired a new position in NeuroPace in the 2nd quarter valued at about $35,000. Quarry LP lifted its holdings in NeuroPace by 94.9% in the 3rd quarter. Quarry LP now owns 3,845 shares of the company’s stock valued at $40,000 after purchasing an additional 1,872 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of NeuroPace by 755.6% during the 4th quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock worth $119,000 after purchasing an additional 6,800 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NeuroPace by 60.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,160 shares of the company’s stock worth $147,000 after purchasing an additional 4,972 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NPCE. JPMorgan Chase & Co. upped their target price on NeuroPace from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NeuroPace in a research note on Monday, December 29th. Wells Fargo & Company raised their target price on shares of NeuroPace from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. UBS Group reiterated a “buy” rating on shares of NeuroPace in a research report on Wednesday, January 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $16.00 price objective on shares of NeuroPace in a research note on Wednesday, November 5th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.67.

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.