UBS Group Begins Coverage on NeuroPace (NASDAQ:NPCE)

Stock analysts at UBS Group assumed coverage on shares of NeuroPace (NASDAQ:NPCE) in a report issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $17.00 price target on the stock. UBS Group’s price target would indicate a potential upside of 21.08% from the stock’s previous close.

A number of other analysts have also issued reports on NPCE. Wells Fargo & Company decreased their price target on NeuroPace from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on shares of NeuroPace from $9.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, NeuroPace currently has an average rating of “Moderate Buy” and an average target price of $15.33.

NeuroPace Price Performance

Shares of NASDAQ:NPCE opened at $14.04 on Tuesday. NeuroPace has a 52 week low of $5.45 and a 52 week high of $18.15. The company has a 50-day moving average price of $11.13 and a 200 day moving average price of $8.52. The company has a market cap of $419.09 million, a P/E ratio of -14.04 and a beta of 2.02. The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $21.06 million for the quarter, compared to analysts’ expectations of $19.33 million. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. During the same quarter in the prior year, the firm posted ($0.28) EPS. Research analysts predict that NeuroPace will post -1 earnings per share for the current year.

Insider Buying and Selling at NeuroPace

In related news, major shareholder Ltd. Kck sold 223,991 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $5.45, for a total value of $1,220,750.95. Following the completion of the transaction, the insider now directly owns 5,270,845 shares of the company’s stock, valued at $28,726,105.25. This represents a 4.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of NeuroPace in the second quarter worth $257,000. Rhumbline Advisers purchased a new stake in NeuroPace in the 2nd quarter worth about $111,000. XTX Topco Ltd boosted its position in NeuroPace by 56.1% during the 2nd quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock worth $182,000 after acquiring an additional 8,643 shares during the period. Millennium Management LLC grew its stake in NeuroPace by 13.3% during the 2nd quarter. Millennium Management LLC now owns 686,037 shares of the company’s stock valued at $5,186,000 after acquiring an additional 80,324 shares in the last quarter. Finally, Financial Advocates Investment Management increased its holdings in shares of NeuroPace by 20.0% in the 3rd quarter. Financial Advocates Investment Management now owns 18,000 shares of the company’s stock valued at $125,000 after purchasing an additional 3,000 shares during the period. 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.