HC Wainwright Forecasts Strong Price Appreciation for NeuroPace (NASDAQ:NPCE) Stock

NeuroPace (NASDAQ:NPCE) had its price objective increased by investment analysts at HC Wainwright from $19.00 to $20.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 32.01% from the company’s previous close.

NPCE has been the subject of several other reports. Cantor Fitzgerald raised shares of NeuroPace to a “strong-buy” rating in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a report on Friday, March 27th. Wells Fargo & Company raised shares of NeuroPace to a “strong-buy” rating in a report on Wednesday, March 18th. Finally, Wall Street Zen cut shares of NeuroPace from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.83.

NeuroPace Stock Down 4.1%

NeuroPace stock traded down $0.64 during trading hours on Friday, hitting $15.15. The stock had a trading volume of 38,559 shares, compared to its average volume of 213,164. The company has a quick ratio of 4.33, a current ratio of 5.38 and a debt-to-equity ratio of 4.08. The stock has a market capitalization of $514.34 million, a P/E ratio of -23.37 and a beta of 1.92. NeuroPace has a 12-month low of $7.56 and a 12-month high of $19.60. The stock’s 50-day moving average price is $15.08 and its 200-day moving average price is $15.07.

NeuroPace (NASDAQ:NPCE) last issued its earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. The business had revenue of $22.00 million during the quarter, compared to analysts’ expectations of $21.65 million. NeuroPace had a negative net margin of 21.67% and a negative return on equity of 108.20%. Equities research analysts anticipate that NeuroPace will post -0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On NeuroPace

Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc lifted its position in 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 purchasing an additional 1,239 shares during the last quarter. Quantbot Technologies LP bought a new position in NeuroPace during the second quarter valued at $35,000. Quarry LP lifted its position in NeuroPace by 94.9% during the third quarter. Quarry LP now owns 3,845 shares of the company’s stock valued at $40,000 after purchasing an additional 1,872 shares during the last quarter. SG Americas Securities LLC bought a new position in NeuroPace during the fourth quarter valued at $118,000. Finally, New York State Common Retirement Fund lifted its position in NeuroPace by 755.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock valued at $119,000 after purchasing an additional 6,800 shares during the last quarter. 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.