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

Key Points

• Consensus "Moderate Buy": Eight brokerages rate NeuroPace with an aggregate recommendation of Moderate Buy (1 sell, 1 hold, 4 buy, 2 strong buy) and an average 12‑month price target of $18.67.
• Recent results show a beat: NeuroPace reported Q (EPS) of -$0.08 versus -$0.14 expected and revenue of $26.59M versus $24.79M, but the company still has negative margins and ROE and a consensus forecast of roughly -$0.51 EPS for the fiscal year.
• Heavy institutional ownership: The stock trades near $16.80 with a market cap of about $570M and about 78.83% of shares held by institutional investors and hedge funds, including recent stake increases by Vanguard, Armistice, Geode and State Street.

Shares of NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $18.6667.

Several brokerages have recently weighed in on NPCE. Wells Fargo & Company upgraded NeuroPace to a "strong-buy" rating in a research note on Wednesday, March 18th. UBS Group restated a "buy" rating on shares of NeuroPace in a research note on Wednesday, January 14th. HC Wainwright raised their target price on NeuroPace from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Tuesday, January 27th. Wall Street Zen downgraded NeuroPace from a "buy" rating to a "hold" rating in a research note on Sunday, March 15th. Finally, Cantor Fitzgerald upgraded NeuroPace to a "strong-buy" rating in a research note on Wednesday, March 4th.

NeuroPace Trading Down 0.4%

NASDAQ:NPCE opened at $16.80 on Friday. The business's 50-day moving average is $14.52 and its two-hundred day moving average is $14.51. The company has a debt-to-equity ratio of 3.09, a current ratio of 5.28 and a quick ratio of 4.33. NeuroPace has a 12 month low of $7.56 and a 12 month high of $18.98. The firm has a market capitalization of $570.36 million, a PE ratio of -25.45 and a beta of 1.87.

NeuroPace (NASDAQ:NPCE - Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.06. NeuroPace had a negative return on equity of 105.67% and a negative net margin of 21.47%.The company had revenue of $26.59 million for the quarter, compared to analyst estimates of $24.79 million. Research analysts predict that NeuroPace will post -0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeuroPace

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in NeuroPace by 4.9% in the third quarter. Vanguard Group Inc. now owns 1,435,850 shares of the company's stock worth $14,804,000 after purchasing an additional 66,574 shares in the last quarter. Armistice Capital LLC grew its stake in NeuroPace by 12.6% in the third quarter. Armistice Capital LLC now owns 1,298,000 shares of the company's stock worth $13,382,000 after purchasing an additional 145,665 shares in the last quarter. Kotler Kevin acquired a new position in NeuroPace in the fourth quarter worth about $9,750,000. Geode Capital Management LLC grew its stake in NeuroPace by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 596,248 shares of the company's stock worth $9,208,000 after purchasing an additional 36,516 shares in the last quarter. Finally, State Street Corp grew its stake in NeuroPace by 9.8% in the fourth quarter. State Street Corp now owns 447,864 shares of the company's stock worth $6,915,000 after purchasing an additional 40,025 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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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