Brokerages Set NeuroPace, Inc. (NASDAQ:NPCE) Price Target at $18.50

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $18.50.

NPCE has been the topic of a number of recent research reports. Leerink Partners restated an “outperform” rating and set a $19.00 price objective on shares of NeuroPace in a research note on Wednesday, November 5th. UBS Group restated a “buy” rating on shares of NeuroPace in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a research report on Monday, December 29th. Wells Fargo & Company increased their price objective on shares of NeuroPace from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $16.00 target price on shares of NeuroPace in a research report on Wednesday, November 5th.

NeuroPace Stock Performance

NASDAQ NPCE opened at $16.94 on Friday. The firm has a 50-day moving average price of $15.71 and a two-hundred day moving average price of $11.89. NeuroPace has a 12-month low of $7.56 and a 12-month high of $18.98. The company has a market capitalization of $564.27 million, a P/E ratio of -22.29 and a beta of 1.85. 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 announced its earnings results on Tuesday, November 4th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.09. The company had revenue of $27.35 million for the quarter, compared to analysts’ expectations of $24.64 million. NeuroPace had a negative net margin of 25.28% and a negative return on equity of 136.60%. Analysts anticipate that NeuroPace will post -1 earnings per share for the current year.

Institutional Investors Weigh In On NeuroPace

Several institutional investors and hedge funds have recently added to or reduced their stakes in NPCE. HighMark Wealth Management LLC raised its stake in NeuroPace by 2,000.0% during the second quarter. HighMark Wealth Management LLC now owns 63,000 shares of the company’s stock worth $702,000 after acquiring an additional 60,000 shares in the last quarter. Divisadero Street Capital Management LP boosted its stake in shares of NeuroPace by 529.2% in the 2nd quarter. Divisadero Street Capital Management LP now owns 242,120 shares of the company’s stock valued at $2,697,000 after purchasing an additional 203,640 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in shares of NeuroPace during the 2nd quarter valued at approximately $1,112,000. Palumbo Wealth Management LLC increased its position in NeuroPace by 268.4% during the 2nd quarter. Palumbo Wealth Management LLC now owns 169,890 shares of the company’s stock worth $1,893,000 after purchasing an additional 123,779 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in NeuroPace in the 2nd quarter valued at approximately $600,000. 78.83% of the stock is currently owned by 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.