KeyCorp Upgrades NeuroPace (NASDAQ:NPCE) to “Strong-Buy”

NeuroPace (NASDAQ:NPCE) was upgraded by stock analysts at KeyCorp to a “strong-buy” rating in a research report issued on Thursday, Zacks reports.

NPCE has been the subject of a number of other research reports. Raymond James Financial set a $21.00 target price on shares of NeuroPace in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research report on Wednesday, June 24th. Mizuho initiated coverage on shares of NeuroPace in a research note on Thursday, July 23rd. They issued an “outperform” rating and a $22.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of NeuroPace in a report on Wednesday, July 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of NeuroPace in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, NeuroPace has a consensus rating of “Moderate Buy” and an average price target of $19.33.

NeuroPace Stock Up 0.9%

Shares of NeuroPace stock opened at $14.28 on Thursday. The business’s fifty day moving average price is $14.64 and its two-hundred day moving average price is $15.24. The company has a debt-to-equity ratio of 4.97, a current ratio of 4.94 and a quick ratio of 3.91. The company has a market capitalization of $490.09 million, a P/E ratio of -25.05 and a beta of 1.94. NeuroPace has a 1-year low of $9.22 and a 1-year high of $19.60.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. The company had revenue of $22.83 million during the quarter, compared to analysts’ expectations of $22.61 million. NeuroPace had a negative return on equity of 105.64% and a negative net margin of 19.34%. As a group, research analysts forecast that NeuroPace will post -0.67 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. First Light Asset Management LLC raised its position in NeuroPace by 16.3% in the second quarter. First Light Asset Management LLC now owns 2,861,167 shares of the company’s stock worth $45,464,000 after acquiring an additional 401,201 shares in the last quarter. BlackRock Inc. bought a new position in shares of NeuroPace during the 2nd quarter valued at about $39,369,000. Deutsche Bank AG bought a new position in shares of NeuroPace during the 2nd quarter valued at about $14,919,000. Algert Global LLC grew its stake in shares of NeuroPace by 2.9% in the 2nd quarter. Algert Global LLC now owns 184,774 shares of the company’s stock worth $2,936,000 after purchasing an additional 5,218 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of NeuroPace by 9.8% in the 1st quarter. Lazard Asset Management LLC now owns 124,305 shares of the company’s stock worth $1,635,000 after purchasing an additional 11,078 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

NeuroPace Company Profile

NeuroPace, Inc is a medical technology company focused on developing therapies for people with drug-resistant epilepsy. The company’s principal product is the RNS System, an implantable responsive neurostimulation device designed to monitor brain activity, identify patterns associated with seizures, and deliver targeted electrical stimulation intended to reduce seizure frequency.

The RNS System includes an implanted neurostimulator, leads placed near seizure-producing areas of the brain, and external software and programming tools used by clinicians.