Wells Fargo & Company Lowers NeuroPace (NASDAQ:NPCE) Price Target to $15.00

Key Points

• Wells Fargo & Company has lowered its price target for NeuroPace (NASDAQ:NPCE) stock from $17.00 to $15.00, maintaining an "overweight" rating, which still suggests a potential upside of 64.29% based on the stock's previous close.
• Analysts' ratings for NeuroPace show a consensus average price target of $16.60, with five investment analysts currently rating it as a "buy."
• NeuroPace reported a quarterly earnings loss of ($0.26) EPS, missing the consensus estimate of ($0.24), despite achieving revenue of $23.52 million, which exceeded analyst expectations.

NeuroPace (NASDAQ:NPCE - Get Free Report) had its price target reduced by Wells Fargo & Company from $17.00 to $15.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price would indicate a potential upside of 78.15% from the company's current price.

Several other equities research analysts have also recently weighed in on the stock. HC Wainwright began coverage on shares of NeuroPace in a research report on Wednesday, May 28th. They set a "buy" rating and a $18.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of NeuroPace from $14.00 to $16.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $17.00 price target on shares of NeuroPace in a research report on Wednesday, May 14th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, NeuroPace presently has a consensus rating of "Buy" and a consensus price target of $16.60.

NeuroPace Trading Down 1.6%

Shares of NPCE stock traded down $0.14 on Wednesday, hitting $8.42. 243,079 shares of the company's stock traded hands, compared to its average volume of 276,123. The company has a debt-to-equity ratio of 3.02, a quick ratio of 4.51 and a current ratio of 5.47. NeuroPace has a one year low of $5.45 and a one year high of $18.98. The company's fifty day simple moving average is $9.91 and its 200 day simple moving average is $11.70. The stock has a market capitalization of $278.53 million, a price-to-earnings ratio of -10.02 and a beta of 1.89.

NeuroPace (NASDAQ:NPCE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.02). The firm had revenue of $23.52 million for the quarter, compared to analysts' expectations of $23.08 million. NeuroPace had a negative net margin of 29.29% and a negative return on equity of 168.61%. Equities analysts forecast that NeuroPace will post -1 EPS for the current year.

Institutional Investors Weigh In On NeuroPace

A number of large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. boosted its stake in shares of NeuroPace by 83.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company's stock valued at $27,000 after purchasing an additional 1,118 shares in the last quarter. Legal & General Group Plc boosted its stake 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 valued at $30,000 after purchasing an additional 1,239 shares in the last quarter. Rhumbline Advisers boosted its stake in NeuroPace by 15.2% during the first quarter. Rhumbline Advisers now owns 17,227 shares of the company's stock worth $212,000 after acquiring an additional 2,267 shares in the last quarter. Wells Fargo & Company MN boosted its stake in NeuroPace by 54.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,483 shares of the company's stock worth $73,000 after acquiring an additional 2,279 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in NeuroPace during the fourth quarter worth about $29,000. Institutional investors own 78.83% of the company's stock.

NeuroPace Company Profile

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.