NeuroPace, Inc. (NASDAQ:NPCE) Given Consensus 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 presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $18.8333.

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

Hedge Funds Weigh In On NeuroPace

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc grew its stake in shares of NeuroPace by 86.0% in the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after buying an additional 1,239 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of NeuroPace in the second quarter valued at $35,000. Quarry LP grew its stake in shares of NeuroPace by 94.9% in the third quarter. Quarry LP now owns 3,845 shares of the company’s stock valued at $40,000 after buying an additional 1,872 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of NeuroPace in the fourth quarter valued at $118,000. Finally, New York State Common Retirement Fund grew its stake in shares of NeuroPace by 755.6% in the fourth quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock valued at $119,000 after buying an additional 6,800 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

NeuroPace Stock Performance

Shares of NPCE stock opened at $16.27 on Thursday. 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 company has a market capitalization of $554.71 million, a P/E ratio of -25.03 and a beta of 1.92. The company’s 50 day moving average price is $15.24 and its two-hundred day moving average price is $15.23. NeuroPace has a 52 week low of $7.56 and a 52 week high of $19.60.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, May 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate 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 net margin of 21.67% and a negative return on equity of 108.20%. On average, analysts expect that NeuroPace will post -0.44 earnings per share for the current fiscal year.

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.