NeuroPace, Inc. (NASDAQ:NPCE) Receives Consensus Rating of “Moderate Buy” from Brokerages

NeuroPace, Inc. (NASDAQ:NPCE) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $14.00.

Several research analysts recently weighed in on the company. Morgan Stanley decreased their target price on NeuroPace from $9.50 to $8.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Wells Fargo & Company decreased their target price on NeuroPace from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $18.00 target price on shares of NeuroPace in a research note on Wednesday, August 14th.

NeuroPace Trading Down 1.7 %

NASDAQ:NPCE opened at $6.83 on Friday. NeuroPace has a 1 year low of $5.75 and a 1 year high of $18.15. The stock has a market cap of $196.49 million, a price-to-earnings ratio of -5.74 and a beta of 1.78. The business has a fifty day moving average of $7.21 and a 200-day moving average of $8.90. The company has a debt-to-equity ratio of 5.97, a quick ratio of 5.47 and a current ratio of 6.37.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, August 13th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.03. NeuroPace had a negative return on equity of 195.26% and a negative net margin of 41.63%. The business had revenue of $19.26 million during the quarter, compared to analysts’ expectations of $18.30 million. During the same quarter last year, the business posted ($0.36) earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Equities analysts predict that NeuroPace will post -1.08 earnings per share for the current year.

Institutional Investors Weigh In On NeuroPace

Hedge funds have recently modified their holdings of the stock. Rhumbline Advisers purchased a new stake in shares of NeuroPace during the second quarter valued at $111,000. Financial Advocates Investment Management lifted its stake in NeuroPace by 50.0% in the 2nd quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock worth $113,000 after acquiring an additional 5,000 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in NeuroPace in the 1st quarter worth about $155,000. XTX Topco Ltd lifted its stake in NeuroPace by 56.1% in 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 in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in NeuroPace in the 2nd quarter worth about $257,000. 78.83% of the stock is 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.