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

NeuroPace, Inc. (NASDAQ:NPCE) has been given an average rating of “Moderate Buy” by the nine brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $19.2857.

NPCE has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of NeuroPace in a report on Monday, August 17th. Guggenheim reaffirmed a “neutral” rating on shares of NeuroPace in a report on Wednesday, July 29th. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of NeuroPace in a research report on Wednesday, July 29th. Mizuho initiated coverage on NeuroPace in a research note on Thursday, July 23rd. They issued an “outperform” rating and a $22.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research report on Wednesday, June 24th.

NeuroPace Stock Performance

NASDAQ NPCE opened at $14.41 on Friday. The company has a 50-day simple moving average of $15.23 and a 200 day simple moving average of $15.27. The company has a debt-to-equity ratio of 4.97, a quick ratio of 3.91 and a current ratio of 4.94. NeuroPace has a 52-week low of $8.88 and a 52-week high of $19.60. The company has a market capitalization of $494.55 million, a PE ratio of -25.28 and a beta of 1.92.

NeuroPace (NASDAQ:NPCE) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. The business had revenue of $22.83 million for the quarter, compared to analysts’ expectations of $22.61 million. NeuroPace had a negative return on equity of 105.64% and a negative net margin of 19.34%. On average, research analysts predict that NeuroPace will post -0.67 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NPCE. Geode Capital Management LLC increased its stake in shares of NeuroPace by 44.6% in the second quarter. Geode Capital Management LLC now owns 485,162 shares of the company’s stock worth $5,406,000 after buying an additional 149,595 shares during the period. Legal & General Group Plc boosted its position in NeuroPace by 86.0% during the 2nd 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 during the period. Rhumbline Advisers grew its holdings in NeuroPace by 114.5% in the 2nd quarter. Rhumbline Advisers now owns 36,956 shares of the company’s stock worth $412,000 after acquiring an additional 19,729 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in NeuroPace by 59.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 71,463 shares of the company’s stock worth $796,000 after acquiring an additional 26,547 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of NeuroPace in the second quarter valued at about $35,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

NeuroPace Company Profile

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.