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

NeuroPace, Inc. (NASDAQ:NPCE) has been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $18.8333.

Several equities research analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research report on Friday, March 27th. HC Wainwright raised their price objective on shares of NeuroPace from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Wall Street Zen downgraded shares of NeuroPace from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Wells Fargo & Company upgraded shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Cantor Fitzgerald upgraded shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 4th.

NeuroPace Stock Performance

NASDAQ NPCE opened at $15.64 on Monday. The stock has a market capitalization of $533.17 million, a price-to-earnings ratio of -24.06 and a beta of 1.88. The business’s 50 day moving average is $16.15 and its two-hundred day moving average is $15.65. NeuroPace has a 12-month low of $7.56 and a 12-month high of $19.60. 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 posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The firm had revenue of $22.00 million for 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%. Research analysts expect that NeuroPace will post -0.54 EPS for the current year.

Hedge Funds Weigh In On NeuroPace

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc boosted 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 worth $30,000 after purchasing an additional 1,239 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of NeuroPace in the second quarter valued at $35,000. Quarry LP raised its stake 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 buying an additional 1,872 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of NeuroPace during the 4th quarter worth $118,000. Finally, New York State Common Retirement Fund boosted its position in shares of NeuroPace by 755.6% in the 4th quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock worth $119,000 after buying an additional 6,800 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

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.