NeuroPace (NASDAQ:NPCE) Research Coverage Started at Mizuho

Mizuho started coverage on shares of NeuroPace (NASDAQ:NPCE) in a report published on Thursday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $22.00 target price on the stock.

A number of other brokerages have also recently issued reports on NPCE. Weiss Ratings reiterated a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th. HC Wainwright upped their target price on shares of NeuroPace from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, NeuroPace has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

NeuroPace Trading Up 0.9%

Shares of NeuroPace stock opened at $14.81 on Thursday. The stock has a market capitalization of $504.87 million, a PE ratio of -22.78 and a beta of 1.88. NeuroPace has a 52 week low of $7.56 and a 52 week high of $19.60. The stock has a 50 day moving average price of $16.12 and a two-hundred day moving average price of $15.62. The company has a debt-to-equity ratio of 4.08, a quick ratio of 4.35 and a current ratio of 5.38.

NeuroPace (NASDAQ:NPCE) last issued its earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $22.00 million for the quarter, compared to analyst estimates of $21.65 million. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%. As a group, equities analysts anticipate that NeuroPace will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeuroPace

A number of institutional investors and hedge funds have recently bought and sold shares of NPCE. First Light Asset Management LLC boosted its holdings in NeuroPace by 82.3% during the 1st quarter. First Light Asset Management LLC now owns 2,459,966 shares of the company’s stock worth $32,349,000 after acquiring an additional 1,110,484 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of NeuroPace by 4.9% in the third quarter. Vanguard Group Inc. now owns 1,435,850 shares of the company’s stock valued at $14,804,000 after purchasing an additional 66,574 shares during the last quarter. Armistice Capital LLC raised its holdings in shares of NeuroPace by 12.6% in the third quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock valued at $13,382,000 after purchasing an additional 145,665 shares during the last quarter. Kotler Kevin bought a new position in shares of NeuroPace during the fourth quarter valued at about $9,750,000. Finally, Geode Capital Management LLC lifted its position in shares of NeuroPace by 6.5% during the fourth 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 in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

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.