Wells Fargo & Company Has Lowered Expectations for NeuroPace (NASDAQ:NPCE) Stock Price

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 objective decreased by Wells Fargo & Company from $17.00 to $15.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 64.29% from the company's previous close.

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

NeuroPace Price Performance

Shares of NPCE opened at $9.13 on Wednesday. The company has a current ratio of 6.63, a quick ratio of 5.70 and a debt-to-equity ratio of 2.46. The stock's 50 day moving average is $10.16 and its two-hundred day moving average is $11.83. NeuroPace has a twelve month low of $5.45 and a twelve month high of $18.98. The firm has a market capitalization of $299.46 million, a PE ratio of -10.87 and a beta of 1.89.

NeuroPace (NASDAQ:NPCE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.02). NeuroPace had a negative net margin of 29.42% and a negative return on equity of 190.84%. The business had revenue of $23.52 million during the quarter, compared to analyst estimates of $23.08 million. Research analysts anticipate that NeuroPace will post -1 earnings per share for the current year.

Hedge Funds Weigh In On NeuroPace

Several hedge funds have recently added to or reduced their stakes in NPCE. First Light Asset Management LLC purchased a new stake in shares of NeuroPace in the first quarter valued at about $19,468,000. Armistice Capital LLC lifted its stake in NeuroPace by 94.7% in the 1st quarter. Armistice Capital LLC now owns 1,153,614 shares of the company's stock valued at $14,178,000 after buying an additional 561,000 shares in the last quarter. Deutsche Bank AG grew its holdings in NeuroPace by 124.0% during the 1st quarter. Deutsche Bank AG now owns 924,274 shares of the company's stock valued at $11,359,000 after buying an additional 511,662 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in NeuroPace during the 1st quarter valued at $9,874,000. Finally, Geode Capital Management LLC increased its position in NeuroPace by 44.6% during the second quarter. Geode Capital Management LLC now owns 485,162 shares of the company's stock worth $5,406,000 after buying an additional 149,595 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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.

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