NeuroPace, Inc. (NASDAQ:NPCE) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• NeuroPace has a “Moderate Buy” consensus rating from 10 analysts: seven buy, one strong buy, one hold, and one sell. The average 12-month price target is $19.33, above the reported share price of $14.71.
• Institutional investors own 78.83% of NeuroPace, with several firms recently initiating or increasing positions, including SG Americas Securities, Algert Global, and Lazard Asset Management.
• NeuroPace exceeded quarterly expectations, reporting an adjusted loss of $0.18 per share versus the anticipated $0.22 loss and revenue of $22.83 million versus the $22.61 million estimate. Analysts expect a full-year loss of $0.67 per share.

Shares of NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the ten ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $19.3333.

Several brokerages have recently issued reports on NPCE. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of NeuroPace in a report on Tuesday, September 15th. HC Wainwright reissued a "buy" rating and set a $20.00 price target on shares of NeuroPace in a research note on Wednesday, July 29th. KeyCorp started coverage on NeuroPace in a report on Thursday, September 17th. They set an "overweight" rating and a $18.00 price target for the company. Raymond James Financial set a $21.00 price objective on NeuroPace in a research note on Tuesday, September 15th. Finally, Mizuho started coverage on NeuroPace in a report on Thursday, July 23rd. They set an "outperform" rating and a $22.00 price objective on the stock.

Institutional Trading of NeuroPace

Large investors have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in shares of NeuroPace in the 2nd quarter worth approximately $41,000. SG Americas Securities LLC raised its holdings in NeuroPace by 52.9% during the 1st quarter. SG Americas Securities LLC now owns 11,640 shares of the company's stock valued at $153,000 after buying an additional 4,029 shares during the period. Algert Global LLC raised its holdings in NeuroPace by 2.9% during the 2nd quarter. Algert Global LLC now owns 184,774 shares of the company's stock valued at $2,936,000 after buying an additional 5,218 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in NeuroPace in the second quarter worth $157,000. Finally, Lazard Asset Management LLC lifted its position in NeuroPace by 9.8% in the first quarter. Lazard Asset Management LLC now owns 124,305 shares of the company's stock worth $1,635,000 after buying an additional 11,078 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

NeuroPace Price Performance

Shares of NeuroPace stock opened at $14.71 on Wednesday. The company has a market capitalization of $504.85 million, a price-to-earnings ratio of -25.81 and a beta of 1.94. 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 stock's 50-day simple moving average is $14.57 and its 200-day simple moving average is $15.25. NeuroPace has a 52 week low of $9.22 and a 52 week high of $19.60.

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

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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