NeuroPace’s (NPCE) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of NeuroPace (NASDAQ:NPCE) in a research report report published on Wednesday, Marketbeat Ratings reports. They currently have a $20.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a research report on Wednesday, June 24th. Mizuho initiated coverage on NeuroPace in a research report on Thursday, July 23rd. They issued an “outperform” rating and a $22.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

NeuroPace Price Performance

Shares of NASDAQ NPCE opened at $12.89 on Wednesday. NeuroPace has a fifty-two week low of $7.56 and a fifty-two week high of $19.60. The stock has a market cap of $439.42 million, a price-to-earnings ratio of -19.83 and a beta of 1.88. The company has a debt-to-equity ratio of 4.08, a quick ratio of 4.35 and a current ratio of 5.38. The firm’s 50-day simple moving average is $15.91 and its 200 day simple moving average is $15.54.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $22.00 million during the quarter, compared to the consensus estimate 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, research analysts anticipate that NeuroPace will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeuroPace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of NeuroPace by 86.0% during the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after acquiring an additional 1,239 shares during the last quarter. Quarry LP boosted its position in NeuroPace by 94.9% in the third quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after purchasing an additional 1,872 shares during the last quarter. Man Group plc boosted its position in NeuroPace by 9.7% in the fourth quarter. Man Group plc now owns 21,626 shares of the company’s stock worth $334,000 after purchasing an additional 1,920 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in NeuroPace by 23.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,836 shares of the company’s stock valued at $230,000 after purchasing an additional 2,778 shares during the period. Finally, Quantbot Technologies LP bought a new position in NeuroPace in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.