NeuroPace (NASDAQ:NPCE) Upgraded at Wells Fargo & Company

Key Points

• Wells Fargo upgraded NeuroPace to a "strong-buy", and along with Cantor Fitzgerald's similar stance the stock's overall consensus sits at a "Moderate Buy" with a consensus price target of $18.67.
• The shares opened at $13.56 with a market cap of $456.57 million and a 52-week range of $7.56–$18.98; NeuroPace reported Q results showing EPS of ($0.08) that beat estimates by $0.06 and revenue of $26.59 million, also above expectations.
• Institutional investors hold about 78.83% of the stock, and NeuroPace is a medical device company known for its RNS® implantable neuromodulation system for refractory focal epilepsy.

NeuroPace (NASDAQ:NPCE - Get Free Report) was upgraded by investment analysts at Wells Fargo & Company to a "strong-buy" rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts also recently commented on NPCE. Weiss Ratings reiterated a "sell (d-)" rating on shares of NeuroPace in a report on Monday, December 29th. JPMorgan Chase & Co. boosted their price objective on shares of NeuroPace from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 10th. UBS Group reaffirmed a "buy" rating on shares of NeuroPace in a report on Wednesday, January 14th. HC Wainwright raised their target price on shares of NeuroPace from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Tuesday, January 27th. Finally, Cantor Fitzgerald upgraded shares of NeuroPace to a "strong-buy" rating in a report on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, NeuroPace currently has an average rating of "Moderate Buy" and a consensus price target of $18.67.

NeuroPace Price Performance

Shares of NASDAQ:NPCE opened at $13.56 on Wednesday. The stock has a market capitalization of $456.57 million, a P/E ratio of -20.55 and a beta of 1.86. The business has a 50-day moving average of $15.27 and a two-hundred day moving average of $13.63. NeuroPace has a fifty-two week low of $7.56 and a fifty-two week high of $18.98. 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 (NASDAQ:NPCE - Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $26.59 million for the quarter, compared to analyst estimates of $24.79 million. On average, equities research analysts predict that NeuroPace will post -1 EPS for the current fiscal year.

Institutional Trading of NeuroPace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. lifted its stake in NeuroPace by 83.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company's stock worth $27,000 after purchasing an additional 1,118 shares during the period. Legal & General Group Plc grew its stake in shares of NeuroPace by 86.0% in the 2nd quarter. Legal & General Group Plc now owns 2,679 shares of the company's stock valued at $30,000 after purchasing an additional 1,239 shares during the period. Quantbot Technologies LP acquired a new position in shares of NeuroPace in the 2nd quarter worth approximately $35,000. Quarry LP raised its stake in NeuroPace by 94.9% during the third quarter. Quarry LP now owns 3,845 shares of the company's stock worth $40,000 after acquiring an additional 1,872 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its position in shares of NeuroPace by 72.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,371 shares of the company's stock worth $71,000 after purchasing an additional 2,668 shares in the last quarter. Institutional investors own 78.83% of the company's stock.

About NeuroPace

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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