NeuroPace, Inc. (NASDAQ:NPCE) Stock Has Average Price Target of $20.50

Key Points

• NeuroPace has a Moderate Buy consensus from nine analysts, with an average 12-month price target of $20.50; six analysts rate it Buy and one Strong Buy.
• The stock opened at $12.52, near its one-year low of $12.00. In its latest reported quarter, NeuroPace posted an $0.18-per-share loss, narrower than analysts’ expected $0.22 loss, and revenue of $22.83 million.
• Institutional investors own 78.83% of NeuroPace shares; BlackRock established a position valued at about $39.4 million in the second quarter.

Shares of NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $20.50.

NPCE has been the subject of several recent analyst reports. Mizuho started coverage on shares of NeuroPace in a research report on Thursday, July 23rd. They set an "outperform" rating and a $22.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of NeuroPace in a research note on Wednesday, July 29th. Cantor Fitzgerald restated an "overweight" rating on shares of NeuroPace in a report on Tuesday, September 15th. Raymond James Financial set a $21.00 target price on NeuroPace in a research report on Tuesday, September 15th. Finally, Guggenheim restated a "neutral" rating on shares of NeuroPace in a research note on Wednesday, July 29th.

Institutional Trading of NeuroPace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of NeuroPace during the second quarter valued at approximately $39,369,000. First Light Asset Management LLC raised its position in NeuroPace by 82.3% in the 1st quarter. First Light Asset Management LLC now owns 2,459,966 shares of the company's stock valued at $32,349,000 after buying an additional 1,110,484 shares during the last quarter. Deutsche Bank AG purchased a new stake in NeuroPace in the 2nd quarter valued at $14,919,000. GSA Capital Partners LLP purchased a new stake in NeuroPace in the 2nd quarter valued at $1,836,000. Finally, Man Group plc bought a new position in NeuroPace during the 2nd quarter valued at $1,336,000. 78.83% of the stock is owned by institutional investors.

NeuroPace Stock Down 1.3%

Shares of NeuroPace stock opened at $12.52 on Thursday. The stock's 50-day moving average is $13.41 and its 200 day moving average is $14.81. NeuroPace has a one year low of $12.00 and a one year high of $19.60. The firm has a market cap of $429.74 million, a price-to-earnings ratio of -21.96 and a beta of 1.98. The company has a debt-to-equity ratio of 4.97, a current ratio of 4.94 and a quick ratio of 3.91.

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

About NeuroPace

NeuroPace, Inc. is a medical technology company focused on treating people with drug-resistant epilepsy. Its primary product is the RNS System, an implanted responsive neurostimulation device designed to detect patterns of abnormal electrical activity in the brain and deliver stimulation in response. The RNS System includes a neurostimulator implanted in the skull and leads placed in or near seizure-onset areas of the brain. Clinicians use the system to review brain activity and adjust treatment, while patients can use accompanying tools to record information about their seizures and share it with their care team.

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