NeuroPace (NASDAQ:NPCE) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of NeuroPace (NASDAQ:NPCE) from a buy rating to a hold rating in a report published on Sunday morning.

Other research analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research report on Monday, December 29th. HC Wainwright lifted their price target on NeuroPace from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Cantor Fitzgerald upgraded NeuroPace to a “strong-buy” rating in a report on Wednesday, March 4th. UBS Group restated a “buy” rating on shares of NeuroPace in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of NeuroPace from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

NeuroPace Price Performance

NASDAQ NPCE opened at $14.09 on Friday. NeuroPace has a 12 month low of $7.56 and a 12 month high of $18.98. The firm has a market capitalization of $474.41 million, a PE ratio of -21.35 and a beta of 1.86. The company’s 50 day simple moving average is $15.42 and its 200 day simple moving average is $13.57. The company has a debt-to-equity ratio of 3.09, a current ratio of 5.28 and a quick ratio of 4.33.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. NeuroPace had a negative return on equity of 105.67% and a negative net margin of 21.47%.The company had revenue of $26.59 million for the quarter, compared to the consensus estimate of $24.79 million. As a group, equities research analysts forecast that NeuroPace will post -1 EPS for the current fiscal year.

Institutional Trading of NeuroPace

A number of institutional investors have recently added to or reduced their stakes in NPCE. Ameritas Investment Partners Inc. raised its holdings in NeuroPace by 83.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company’s stock valued at $27,000 after buying an additional 1,118 shares in the last quarter. Legal & General Group Plc raised its position in shares of NeuroPace by 86.0% in the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after purchasing an additional 1,239 shares during the period. Quantbot Technologies LP acquired a new stake in shares of NeuroPace in the second quarter worth $35,000. Quarry LP lifted its stake in shares of NeuroPace by 94.9% in the third quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after buying an additional 1,872 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of NeuroPace by 72.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,371 shares of the company’s stock worth $71,000 after buying an additional 2,668 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

About NeuroPace

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.