NeuroPace (NASDAQ:NPCE) Upgraded to "Strong-Buy" at KeyCorp

Key Points

• KeyCorp upgraded NeuroPace to “strong buy,” while analysts’ overall consensus remains “Moderate Buy” with an average price target of $19.33.
• NeuroPace shares opened at $14.28, up 0.9%, with a market capitalization of approximately $490 million and a 52-week range of $9.22 to $19.60.
• The company exceeded quarterly expectations, reporting adjusted EPS of negative $0.18 versus estimates of negative $0.22 and revenue of $22.83 million versus the $22.61 million consensus; institutional investors own 78.83% of the stock.

NeuroPace (NASDAQ:NPCE - Get Free Report) was upgraded by stock analysts at KeyCorp to a "strong-buy" rating in a research note issued to investors on Thursday, Zacks reports.

Several other equities analysts have also commented on NPCE. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price objective on shares of NeuroPace in a research report on Wednesday, July 29th. Guggenheim restated a "neutral" rating on shares of NeuroPace in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NeuroPace in a report on Wednesday, June 24th. Cantor Fitzgerald reiterated an "overweight" rating on shares of NeuroPace in a research note on Tuesday. Finally, Raymond James Financial set a $21.00 price objective on shares of NeuroPace in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.33.

NeuroPace Stock Up 0.9%

Shares of NeuroPace stock opened at $14.28 on Thursday. The company has a market cap of $490.09 million, a P/E ratio of -25.05 and a beta of 1.94. NeuroPace has a 52-week low of $9.22 and a 52-week high of $19.60. The company has a quick ratio of 3.91, a current ratio of 4.94 and a debt-to-equity ratio of 4.97. The firm's 50 day moving average price is $14.64 and its 200-day moving average price is $15.24.

NeuroPace (NASDAQ:NPCE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.04. NeuroPace had a negative return on equity of 105.64% and a negative net margin of 19.34%.The business had revenue of $22.83 million for the quarter, compared to the consensus estimate of $22.61 million. On average, sell-side analysts predict that NeuroPace will post -0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On NeuroPace

A number of institutional investors have recently bought and sold shares of NPCE. Legal & General Group Plc acquired a new stake in NeuroPace during the 2nd quarter valued at approximately $41,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in NeuroPace during the 2nd quarter worth about $157,000. SG Americas Securities LLC grew its position in NeuroPace by 52.9% during the 1st quarter. SG Americas Securities LLC now owns 11,640 shares of the company's stock worth $153,000 after purchasing an additional 4,029 shares during the period. Bank of America Corp DE purchased a new position in shares of NeuroPace during the 2nd quarter valued at about $322,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of NeuroPace during the 2nd quarter valued at about $351,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

NeuroPace Company Profile

NeuroPace, Inc is a medical technology company focused on developing therapies for people with drug-resistant epilepsy. The company's principal product is the RNS System, an implantable responsive neurostimulation device designed to monitor brain activity, identify patterns associated with seizures, and deliver targeted electrical stimulation intended to reduce seizure frequency.

The RNS System includes an implanted neurostimulator, leads placed near seizure-producing areas of the brain, and external software and programming tools used by clinicians.

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