NeuroPace (NASDAQ:NPCE) Upgraded to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of NeuroPace (NASDAQ:NPCE) to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

NPCE has been the subject of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research report on Monday, December 29th. Leerink Partners restated an “outperform” rating and set a $19.00 target price on shares of NeuroPace in a report on Wednesday, November 5th. HC Wainwright lifted their target price on NeuroPace from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Wells Fargo & Company increased their price target 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. Finally, UBS Group reissued a “buy” rating on shares of NeuroPace in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

NeuroPace Trading Down 4.1%

Shares of NPCE traded down $0.57 during trading on Wednesday, reaching $13.38. 411,322 shares of the company traded hands, compared to its average volume of 216,805. NeuroPace has a twelve month low of $7.56 and a twelve month high of $18.98. The stock has a market cap of $445.69 million, a PE ratio of -20.27 and a beta of 1.86. The stock has a 50-day simple moving average of $15.63 and a 200-day simple moving average of $13.27. The company has a quick ratio of 3.94, a current ratio of 4.86 and a debt-to-equity ratio of 3.17.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.06. NeuroPace had a negative net margin of 21.47% and a negative return on equity of 103.49%. The firm had revenue of $26.59 million for the quarter, compared to analyst estimates of $24.79 million. On average, analysts anticipate that NeuroPace will post -1 earnings per share for the current year.

Hedge Funds Weigh In On NeuroPace

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of NeuroPace by 4.9% during the third quarter. Vanguard Group Inc. now owns 1,435,850 shares of the company’s stock worth $14,804,000 after buying an additional 66,574 shares during the period. 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. Kotler Kevin acquired a new position in NeuroPace during the 4th quarter worth approximately $9,750,000. Geode Capital Management LLC increased its position in shares of NeuroPace by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 596,248 shares of the company’s stock valued at $9,208,000 after purchasing an additional 36,516 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of NeuroPace by 9.8% in the 4th quarter. State Street Corp now owns 447,864 shares of the company’s stock valued at $6,915,000 after purchasing an additional 40,025 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.