NeuroPace, Inc. (NASDAQ:NPCE) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• NeuroPace has a “Moderate Buy” consensus rating from 10 analysts, with five buys, two strong buys, two holds and one sell. The average 12-month price target is $19.29, above the reported opening price of $13.50.
• The company’s latest quarterly results exceeded expectations, reporting an adjusted loss of $0.13 per share versus the expected $0.19 loss and revenue of $22.0 million versus the $21.65 million consensus estimate.
• Institutional investors own 78.83% of NeuroPace, with several funds—including Geode Capital Management, Legal & General and Rhumbline Advisers—reporting increased holdings during the second quarter.

NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the ten brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $19.2857.

Several equities research analysts recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $20.00 target price on shares of NeuroPace in a research note on Wednesday, July 29th. Guggenheim reaffirmed a "neutral" rating on shares of NeuroPace in a report on Wednesday, July 29th. Mizuho assumed coverage on NeuroPace in a research report on Thursday, July 23rd. They issued an "outperform" rating and a $22.00 price objective for the company. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of NeuroPace in a research report on Wednesday, June 24th.

NeuroPace Price Performance

NASDAQ:NPCE opened at $13.50 on Tuesday. The stock has a market cap of $460.21 million, a P/E ratio of -20.77 and a beta of 1.92. NeuroPace has a one year low of $7.56 and a one year high of $19.60. The company has a fifty day moving average price of $15.84 and a 200 day moving average price of $15.51. The company has a debt-to-equity ratio of 4.08, a current ratio of 5.38 and a quick ratio of 4.35.

NeuroPace (NASDAQ:NPCE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.06. NeuroPace had a negative net margin of 21.67% and a negative return on equity of 108.20%. The firm had revenue of $22.00 million during the quarter, compared to the consensus estimate of $21.65 million. Analysts anticipate that NeuroPace will post -0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in NeuroPace by 44.6% in the 2nd quarter. Geode Capital Management LLC now owns 485,162 shares of the company's stock valued at $5,406,000 after buying an additional 149,595 shares during the period. Legal & General Group Plc lifted its holdings in shares of NeuroPace by 86.0% during the 2nd quarter. Legal & General Group Plc now owns 2,679 shares of the company's stock worth $30,000 after acquiring an additional 1,239 shares during the period. Rhumbline Advisers lifted its holdings in shares of NeuroPace by 114.5% during the 2nd quarter. Rhumbline Advisers now owns 36,956 shares of the company's stock worth $412,000 after acquiring an additional 19,729 shares during the period. Russell Investments Group Ltd. boosted its position in shares of NeuroPace by 59.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 71,463 shares of the company's stock valued at $796,000 after acquiring an additional 26,547 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of NeuroPace during the 2nd quarter valued at about $35,000. 78.83% of the stock is owned by institutional investors.

NeuroPace Company Profile

NeuroPace, Inc is a medical device company based in Mountain View, California, that develops innovative neuromodulation systems for the treatment of neurological disorders. Founded in the late 1990s out of research at Stanford University, the company's mission centers on delivering closed-loop, “smart” therapies that monitor and respond to electrical activity in the brain. In 2020, NeuroPace completed its initial public offering and now trades on the NASDAQ under the ticker NPCE.

The company's flagship product, the RNS® System, is an implantable device designed for adults with medically refractory focal epilepsy.

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