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

Key Points

• NeuroPace has a consensus analyst rating of “Moderate Buy” from eight covering analysts, with an average 12-month price target of about $18.83.
• The company recently beat quarterly earnings estimates, reporting EPS of -$0.13 versus expectations for -$0.19, while revenue came in slightly above forecasts at $22.0 million.
• Shares opened at $16.97, and the stock has traded between $7.56 and $19.60 over the past year; institutional investors currently own 78.83% of the company.

NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $18.8333.

NPCE has been the topic of several recent analyst reports. Wall Street Zen downgraded NeuroPace from a "buy" rating to a "hold" rating in a report on Sunday, March 15th. Wells Fargo & Company raised NeuroPace to a "strong-buy" rating in a report on Wednesday, March 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of NeuroPace in a research report on Wednesday, June 24th. Finally, HC Wainwright boosted their price objective on NeuroPace from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 15th.

NeuroPace Stock Performance

NASDAQ:NPCE opened at $16.97 on Friday. The firm has a market capitalization of $578.51 million, a PE ratio of -26.11 and a beta of 1.88. NeuroPace has a 1 year low of $7.56 and a 1 year high of $19.60. The company has a current ratio of 5.38, a quick ratio of 4.35 and a debt-to-equity ratio of 4.08. The firm's fifty day simple moving average is $16.33 and its 200 day simple moving average is $15.62.

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

Hedge Funds Weigh In On NeuroPace

Several hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC grew its holdings in NeuroPace by 82.3% during the 1st quarter. First Light Asset Management LLC now owns 2,459,966 shares of the company's stock worth $32,349,000 after acquiring an additional 1,110,484 shares during the period. Lazard Asset Management LLC lifted its stake in shares of NeuroPace by 9.8% in the 1st quarter. Lazard Asset Management LLC now owns 124,305 shares of the company's stock valued at $1,635,000 after purchasing an additional 11,078 shares during the period. Sei Investments Co. lifted its stake in shares of NeuroPace by 51.4% in the 1st quarter. Sei Investments Co. now owns 121,476 shares of the company's stock valued at $1,597,000 after purchasing an additional 41,233 shares during the period. SG Americas Securities LLC boosted its position in shares of NeuroPace by 52.9% in 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 last quarter. Finally, Invesco Ltd. bought a new position in shares of NeuroPace in the 4th quarter worth $184,000. Institutional investors own 78.83% of the company's stock.

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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