NeuroPace, Inc. (NASDAQ:NPCE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

NeuroPace, Inc. (NASDAQ:NPCE) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $19.2857.

A number of research firms recently weighed in on NPCE. Mizuho started coverage on shares of NeuroPace in a research note on Thursday, July 23rd. They set an “outperform” rating and a $22.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of NeuroPace in a report on Wednesday, July 29th. Guggenheim reaffirmed a “neutral” rating on shares of NeuroPace in a research note on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NeuroPace in a research report on Wednesday, June 24th.

Hedge Funds Weigh In On NeuroPace

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of NeuroPace by 44.6% during the second quarter. Geode Capital Management LLC now owns 485,162 shares of the company’s stock worth $5,406,000 after acquiring an additional 149,595 shares during the last quarter. 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 worth $30,000 after purchasing an additional 1,239 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of NeuroPace by 114.5% during the 2nd quarter. Rhumbline Advisers now owns 36,956 shares of the company’s stock valued at $412,000 after purchasing an additional 19,729 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of NeuroPace by 59.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 71,463 shares of the company’s stock valued at $796,000 after purchasing an additional 26,547 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of NeuroPace during the second quarter valued at about $35,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

NeuroPace Trading Up 6.7%

NeuroPace stock opened at $14.83 on Tuesday. NeuroPace has a 12-month low of $7.56 and a 12-month high of $19.60. The firm has a market capitalization of $505.55 million, a price-to-earnings ratio of -22.82 and a beta of 1.92. The firm has a 50 day moving average of $15.62 and a 200 day moving average of $15.44. The company has a current ratio of 5.38, a quick ratio of 4.35 and a debt-to-equity ratio of 4.08.

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

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.