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

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have received an average rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $15.67.

Several research firms have commented on NPCE. Wells Fargo & Company raised shares of NeuroPace from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $16.00 to $20.00 in a report on Thursday, March 14th. SVB Leerink initiated coverage on NeuroPace in a research note on Tuesday, January 30th. They set an “outperform” rating and a $22.00 target price for the company. Leerink Partnrs reiterated an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. Cantor Fitzgerald upped their price objective on NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley raised their price objective on NeuroPace from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th.

NeuroPace Trading Down 5.3 %

Shares of NASDAQ:NPCE opened at $12.60 on Thursday. The business’s 50 day simple moving average is $13.83 and its 200 day simple moving average is $12.01. NeuroPace has a 1 year low of $3.80 and a 1 year high of $18.15. The company has a debt-to-equity ratio of 2.76, a current ratio of 5.71 and a quick ratio of 5.02. The company has a market capitalization of $361.87 million, a P/E ratio of -9.84 and a beta of 2.06.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.10. NeuroPace had a negative return on equity of 153.76% and a negative net margin of 50.38%. The company had revenue of $18.01 million for the quarter, compared to analyst estimates of $17.74 million. On average, research analysts anticipate that NeuroPace will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling

In other NeuroPace news, major shareholder Orbimed Advisors Llc sold 1,781 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $14.06, for a total value of $25,040.86. Following the completion of the transaction, the insider now directly owns 3,435,541 shares in the company, valued at $48,303,706.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 525,345 shares of company stock worth $7,583,250 in the last 90 days. Insiders own 27.50% of the company’s stock.

Hedge Funds Weigh In On NeuroPace

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kent Lake Capital LLC lifted its holdings in shares of NeuroPace by 285.0% during the third quarter. Kent Lake Capital LLC now owns 574,417 shares of the company’s stock worth $5,589,000 after purchasing an additional 425,212 shares during the period. EAM Investors LLC bought a new stake in shares of NeuroPace in the 3rd quarter valued at about $1,378,000. Barclays PLC increased its stake in shares of NeuroPace by 9,085.6% in the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock valued at $105,000 after buying an additional 10,721 shares during the period. Finally, Citigroup Inc. bought a new position in shares of NeuroPace during the third quarter worth about $29,000. 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.