NeuroPace (NASDAQ:NPCE) Trading 1.1% Higher – Still a Buy?

NeuroPace, Inc. (NASDAQ:NPCE)’s stock price traded up 1.1% during trading on Thursday . The company traded as high as $17.07 and last traded at $16.97. Approximately 90,776 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 175,229 shares. The stock had previously closed at $16.78.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NPCE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th. Wall Street Zen downgraded NeuroPace from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Wells Fargo & Company upgraded NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, HC Wainwright raised their price target on NeuroPace from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.83.

NeuroPace Trading Up 0.8%

The business’s fifty day simple moving average is $16.34 and its 200 day simple moving average is $15.63. The company has a current ratio of 5.38, a quick ratio of 4.35 and a debt-to-equity ratio of 4.08. The stock has a market cap of $583.28 million, a P/E ratio of -26.32 and a beta of 1.88.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. NeuroPace had a negative net margin of 21.67% and a negative return on equity of 108.20%. The company had revenue of $22.00 million during the quarter, compared to the consensus estimate of $21.65 million. As a group, analysts expect that NeuroPace, Inc. will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its position in NeuroPace by 86.0% in 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 last quarter. Quarry LP raised its position in shares of NeuroPace by 94.9% during the third quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after acquiring an additional 1,872 shares during the last quarter. Man Group plc lifted its stake in shares of NeuroPace by 9.7% during the fourth quarter. Man Group plc now owns 21,626 shares of the company’s stock valued at $334,000 after acquiring an additional 1,920 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of NeuroPace by 23.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,836 shares of the company’s stock valued at $230,000 after acquiring an additional 2,778 shares during the period. Finally, Quantbot Technologies LP bought a new position in NeuroPace in the second quarter valued at about $35,000. Institutional investors and hedge funds 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.