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

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $15.67.

A number of brokerages recently weighed in on NPCE. Wells Fargo & Company raised shares of NeuroPace from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $16.00 to $20.00 in a research note on Thursday, March 14th. Morgan Stanley upped their target price on NeuroPace from $9.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $18.00 target price on shares of NeuroPace in a report on Thursday, May 9th.

Insider Buying and Selling

In other NeuroPace news, major shareholder Orbimed Advisors Llc sold 4,674 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $14.03, for a total value of $65,576.22. Following the completion of the sale, the insider now owns 3,406,335 shares of the company’s stock, valued at $47,790,880.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 525,345 shares of company stock valued at $7,583,250. 22.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Hillsdale Investment Management Inc. purchased a new position in shares of NeuroPace during the first quarter valued at approximately $155,000. Acadian Asset Management LLC bought a new position in NeuroPace during the 1st quarter valued at $621,000. Vanguard Group Inc. boosted its holdings in NeuroPace by 18.3% during the 1st quarter. Vanguard Group Inc. now owns 488,618 shares of the company’s stock worth $6,450,000 after acquiring an additional 75,512 shares during the last quarter. Kent Lake Capital LLC boosted its holdings in NeuroPace by 16.8% during the 4th quarter. Kent Lake Capital LLC now owns 670,946 shares of the company’s stock worth $6,917,000 after acquiring an additional 96,529 shares during the last quarter. Finally, Citigroup Inc. bought a new stake in shares of NeuroPace in the 3rd quarter worth $29,000. 78.83% of the stock is owned by institutional investors.

NeuroPace Stock Performance

NASDAQ NPCE opened at $7.23 on Friday. The company has a market capitalization of $208.01 million, a price-to-earnings ratio of -6.08 and a beta of 1.80. The company has a quick ratio of 5.56, a current ratio of 6.43 and a debt-to-equity ratio of 4.05. NeuroPace has a twelve month low of $3.91 and a twelve month high of $18.15. The stock has a fifty day simple moving average of $8.56 and a 200 day simple moving average of $11.84.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.32). The company had revenue of $18.12 million during the quarter, compared to the consensus estimate of $18.12 million. NeuroPace had a negative return on equity of 173.62% and a negative net margin of 45.61%. Sell-side analysts expect that NeuroPace will post -1.14 EPS for the current year.

About NeuroPace

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.