Wells Fargo & Company Trims NeuroPace (NASDAQ:NPCE) Target Price to $15.00

NeuroPace (NASDAQ:NPCE) had its price objective cut by Wells Fargo & Company from $20.00 to $15.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on NPCE. Morgan Stanley decreased their target price on NeuroPace from $9.50 to $8.00 and set an equal weight rating for the company in a research report on Monday, July 15th. Cantor Fitzgerald reaffirmed an overweight rating and set a $18.00 target price on shares of NeuroPace in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $14.00.

NeuroPace Stock Up 3.8 %

Shares of NASDAQ NPCE traded up $0.26 during trading hours on Wednesday, hitting $7.03. The stock had a trading volume of 12,754 shares, compared to its average volume of 109,463. The company has a market capitalization of $202.24 million, a P/E ratio of -6.08 and a beta of 1.80. The firm’s 50-day moving average price is $7.14 and its two-hundred day moving average price is $10.94. NeuroPace has a 52 week low of $4.21 and a 52 week high of $18.15. The company has a debt-to-equity ratio of 4.05, a quick ratio of 5.56 and a current ratio of 6.43.

NeuroPace (NASDAQ:NPCE) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.03. The business had revenue of $19.26 million during the quarter, compared to analysts’ expectations of $18.30 million. NeuroPace had a negative return on equity of 173.62% and a negative net margin of 45.61%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.36) EPS. Analysts anticipate that NeuroPace will post -1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Hillsdale Investment Management Inc. acquired a new position in shares of NeuroPace during the first quarter worth approximately $155,000. Acadian Asset Management LLC acquired a new position in shares of NeuroPace in the first quarter valued at $621,000. XTX Topco Ltd raised its stake in NeuroPace by 56.1% during the second quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock worth $182,000 after acquiring an additional 8,643 shares in the last quarter. Rhumbline Advisers acquired a new position in NeuroPace during the second quarter worth $111,000. Finally, Bank of New York Mellon Corp acquired a new position in NeuroPace during the second quarter worth $257,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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.