NeuroPace, Inc. (NASDAQ:NPCE) Receives $15.67 Consensus Target Price from Analysts

NeuroPace, Inc. (NASDAQ:NPCE) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $15.67.

A number of research analysts recently weighed in on the stock. Lake Street Capital restated a “buy” rating and set a $12.00 target price on shares of NeuroPace in a research note on Wednesday, December 27th. SVB Leerink began coverage on shares of NeuroPace in a report on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 target price for the company. Cantor Fitzgerald upped their target price on shares of NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Leerink Partnrs reaffirmed an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th. Finally, Wells Fargo & Company raised shares of NeuroPace from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $16.00 to $20.00 in a report on Thursday, March 14th.

Insider Buying and Selling at NeuroPace

In other NeuroPace news, major shareholder Orbimed Advisors Llc sold 461,899 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $14.49, for a total transaction of $6,692,916.51. Following the completion of the transaction, the insider now owns 3,542,068 shares of the company’s stock, valued at approximately $51,324,565.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Martha Morrell sold 1,923 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $15.08, for a total transaction of $28,998.84. Following the sale, the insider now directly owns 96,014 shares in the company, valued at approximately $1,447,891.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Orbimed Advisors Llc sold 461,899 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $14.49, for a total transaction of $6,692,916.51. Following the sale, the insider now owns 3,542,068 shares in the company, valued at $51,324,565.32. The disclosure for this sale can be found here. Insiders sold 481,341 shares of company stock valued at $6,968,331 in the last 90 days. Insiders own 27.50% of the company’s stock.

Institutional Trading of NeuroPace

Several hedge funds have recently made changes to their positions in NPCE. Citigroup Inc. purchased a new stake in shares of NeuroPace during the 3rd quarter valued at about $29,000. Renaissance Technologies LLC purchased a new stake in shares of NeuroPace during the 2nd quarter valued at about $63,000. Susquehanna International Group LLP purchased a new stake in shares of NeuroPace during the 1st quarter valued at about $65,000. Barclays PLC raised its position in NeuroPace by 9,085.6% in the 3rd quarter. Barclays PLC now owns 10,839 shares of the company’s stock worth $105,000 after purchasing an additional 10,721 shares during the period. Finally, Geode Capital Management LLC raised its position in NeuroPace by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 71,515 shares of the company’s stock worth $106,000 after purchasing an additional 5,945 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

NeuroPace Stock Up 1.8 %

NASDAQ NPCE opened at $14.00 on Friday. NeuroPace has a 52 week low of $3.80 and a 52 week high of $18.15. The company has a quick ratio of 5.02, a current ratio of 5.71 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $367.92 million, a P/E ratio of -10.94 and a beta of 2.08. The stock’s 50-day moving average price is $14.53 and its 200-day moving average price is $11.36.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.10. NeuroPace had a negative net margin of 50.38% and a negative return on equity of 153.76%. The company had revenue of $18.01 million during the quarter, compared to analyst estimates of $17.74 million. On average, equities research analysts predict that NeuroPace will post -1.14 earnings per share for the current year.

NeuroPace Company Profile

NeuroPace, Inc operates as a medical device company in the United States. The company develops RNS system, a brain-responsive neuromodulation system that delivers personalized, real-time treatment at the seizure source for treating medically refractory focal epilepsy. It also records continuous brain activity data and enables clinicians to monitor patients in person and remotely.