Analysts Set NeuroPace, Inc. (NASDAQ:NPCE) Price Target at $14.50

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.00.

Several brokerages recently commented on NPCE. JPMorgan Chase & Co. boosted their price target on shares of NeuroPace from $9.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company cut their target price on shares of NeuroPace from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th.

Insider Transactions at NeuroPace

In other news, major shareholder Ltd. Kck sold 223,991 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $5.45, for a total value of $1,220,750.95. Following the completion of the sale, the insider now directly owns 5,270,845 shares in the company, valued at $28,726,105.25. This represents a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 257,590 shares of company stock valued at $1,437,916. Corporate insiders own 22.20% 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 stock. JPMorgan Chase & Co. raised its holdings in shares of NeuroPace by 106.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company’s stock worth $84,000 after acquiring an additional 6,181 shares during the period. Barclays PLC grew its holdings in shares of NeuroPace by 346.0% in the third quarter. Barclays PLC now owns 20,633 shares of the company’s stock valued at $144,000 after purchasing an additional 16,007 shares during the period. Geode Capital Management LLC increased its position in NeuroPace by 8.7% during the third quarter. Geode Capital Management LLC now owns 317,192 shares of the company’s stock worth $2,211,000 after purchasing an additional 25,330 shares during the last quarter. State Street Corp raised its stake in NeuroPace by 9.1% during the third quarter. State Street Corp now owns 155,490 shares of the company’s stock worth $1,084,000 after purchasing an additional 12,912 shares during the period. Finally, Financial Advocates Investment Management boosted its holdings in NeuroPace by 20.0% in the 3rd quarter. Financial Advocates Investment Management now owns 18,000 shares of the company’s stock valued at $125,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

NeuroPace Trading Up 1.9 %

NPCE stock opened at $11.35 on Friday. The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03. NeuroPace has a 52-week low of $5.45 and a 52-week high of $18.15. The company’s 50-day simple moving average is $9.20 and its 200-day simple moving average is $7.84. The firm has a market cap of $338.77 million, a P/E ratio of -11.35 and a beta of 2.05.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The company had revenue of $21.06 million for the quarter, compared to the consensus estimate of $19.33 million. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. During the same quarter in the prior year, the business posted ($0.28) earnings per share. As a group, equities analysts forecast that NeuroPace will post -1 EPS for the current fiscal year.

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.