NeuroPace, Inc. (NASDAQ:NPCE) Given Average Recommendation of “Moderate Buy” by Brokerages

NeuroPace, Inc. (NASDAQ:NPCE) has been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $18.8333.

NPCE has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a research note on Friday, March 27th. Cantor Fitzgerald upgraded NeuroPace to a “strong-buy” rating in a report on Wednesday, March 4th. Wells Fargo & Company upgraded NeuroPace to a “strong-buy” rating in a report on Wednesday, March 18th. Wall Street Zen downgraded NeuroPace from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Finally, HC Wainwright lifted their price objective on NeuroPace from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 15th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NPCE. Legal & General Group Plc grew its holdings in shares of NeuroPace by 86.0% during the 2nd quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock worth $30,000 after acquiring an additional 1,239 shares during the period. Quantbot Technologies LP purchased a new position in shares of NeuroPace during the 2nd quarter worth approximately $35,000. Quarry LP grew its holdings in shares of NeuroPace by 94.9% during the 3rd quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after acquiring an additional 1,872 shares during the period. SG Americas Securities LLC purchased a new position in shares of NeuroPace during the 4th quarter worth approximately $118,000. Finally, New York State Common Retirement Fund grew its holdings in shares of NeuroPace by 755.6% during the 4th quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock worth $119,000 after acquiring an additional 6,800 shares during the period. Institutional investors own 78.83% of the company’s stock.

NeuroPace Stock Performance

NASDAQ:NPCE opened at $15.63 on Monday. The company has a debt-to-equity ratio of 4.08, a current ratio of 5.38 and a quick ratio of 4.35. The business has a fifty day simple moving average of $16.22 and a two-hundred day simple moving average of $15.61. NeuroPace has a 1 year low of $7.56 and a 1 year high of $19.60. The company has a market capitalization of $532.83 million, a P/E ratio of -24.05 and a beta of 1.88.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The firm had revenue of $22.00 million during 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%. On average, analysts expect that NeuroPace will post -0.54 earnings per share for the current year.

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.