NeuroPace (NASDAQ:NPCE) Shares Gap Up – Still a Buy?

NeuroPace, Inc. (NASDAQ:NPCE)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $16.91, but opened at $17.75. NeuroPace shares last traded at $16.79, with a volume of 93,217 shares traded.

Analyst Ratings Changes

NPCE has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of NeuroPace from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. UBS Group restated a “buy” rating on shares of NeuroPace in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $16.00 price target on shares of NeuroPace in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research note on Monday, December 29th. Finally, Wells Fargo & Company raised their target price on NeuroPace from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.50.

NeuroPace Trading Up 3.6%

The stock has a market cap of $577.93 million, a PE ratio of -22.83 and a beta of 1.85. 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 has a 50 day moving average of $15.63 and a two-hundred day moving average of $11.83.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.09. The company had revenue of $27.35 million for the quarter, compared to analyst estimates of $24.64 million. NeuroPace had a negative return on equity of 136.60% and a negative net margin of 25.28%. Sell-side analysts anticipate that NeuroPace, Inc. will post -1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeuroPace

A number of large investors have recently added to or reduced their stakes in NPCE. Ameritas Investment Partners Inc. grew its position in shares of NeuroPace by 83.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company’s stock valued at $27,000 after purchasing an additional 1,118 shares during the period. Legal & General Group Plc lifted its stake in NeuroPace by 86.0% in 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 in the last quarter. Quantbot Technologies LP acquired a new stake in NeuroPace in the 2nd quarter worth about $35,000. Quarry LP increased its stake in NeuroPace by 94.9% during the 3rd quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after buying an additional 1,872 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in shares of NeuroPace by 72.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 6,371 shares of the company’s stock valued at $71,000 after acquiring an additional 2,668 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

NeuroPace Company Profile

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.