NeuroPace (NASDAQ:NPCE – Free Report) 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.
Get Our Latest Analysis on NPCE
NeuroPace Stock Up 3.8 %
NeuroPace (NASDAQ:NPCE – Get Free Report) 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.
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