Brokerages Set NeuroPace, Inc. (NASDAQ:NPCE) PT at $15.67

NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on 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 recently commented on NPCE. Leerink Partnrs reaffirmed an "outperform" rating on shares of NeuroPace in a report on Tuesday, January 30th. Wells Fargo & Company raised NeuroPace from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $16.00 to $20.00 in a report on Thursday, March 14th. Morgan Stanley upped their target price on NeuroPace from $9.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, March 6th. Lake Street Capital reaffirmed a "buy" rating and set a $12.00 target price on shares of NeuroPace in a report on Wednesday, December 27th. Finally, SVB Leerink started coverage on NeuroPace in a report on Tuesday, January 30th. They set an "outperform" rating and a $22.00 target price for the company.

Insider Buying and Selling

In related news, insider Martha Morrell sold 1,923 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $15.08, for a total value of $28,998.84. Following the completion of the transaction, the insider now directly owns 96,014 shares of the company's stock, valued at approximately $1,447,891.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 27.50% of the company's stock.

Hedge Funds Weigh In On NeuroPace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NPCE. Nantahala Capital Management LLC boosted its stake in NeuroPace by 58.6% during the 1st quarter. Nantahala Capital Management LLC now owns 485,303 shares of the company's stock valued at $3,984,000 after purchasing an additional 179,397 shares in the last quarter. State Street Corp boosted its stake in NeuroPace by 2.1% during the 1st quarter. State Street Corp now owns 98,717 shares of the company's stock valued at $810,000 after purchasing an additional 2,042 shares in the last quarter. FMR LLC boosted its stake in NeuroPace by 0.8% during the 2nd quarter. FMR LLC now owns 1,418,951 shares of the company's stock valued at $7,024,000 after purchasing an additional 11,645 shares in the last quarter. Renaissance Technologies LLC bought a new position in NeuroPace during the 2nd quarter valued at $63,000. Finally, Millennium Management LLC boosted its stake in NeuroPace by 19.8% during the 2nd quarter. Millennium Management LLC now owns 506,905 shares of the company's stock valued at $2,509,000 after purchasing an additional 83,877 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

NeuroPace Stock Down 6.9 %

NASDAQ NPCE traded down $1.01 on Friday, hitting $13.50. 411,257 shares of the stock traded hands, compared to its average volume of 116,630. The stock has a 50-day moving average of $14.72 and a 200 day moving average of $11.27. NeuroPace has a twelve month low of $3.80 and a twelve month high of $18.15. The company has a market capitalization of $354.78 million, a P/E ratio of -10.55 and a beta of 2.08. The company has a current ratio of 5.71, a quick ratio of 5.02 and a debt-to-equity ratio of 2.76.

NeuroPace (NASDAQ:NPCE - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $18.01 million for the quarter, compared to analysts' expectations of $17.74 million. As a group, analysts expect that NeuroPace will post -1.14 earnings per share 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.