Wells Fargo & Company Boosts NeuroPace (NASDAQ:NPCE) Price Target to $17.00

NeuroPace (NASDAQ:NPCE) had its price target increased by equities researchers at Wells Fargo & Company from $13.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 23.55% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. UBS Group started coverage on NeuroPace in a research report on Tuesday, January 21st. They set a “buy” rating and a $17.00 target price on the stock. JPMorgan Chase & Co. raised their target price on 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 four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.80.

NeuroPace Stock Performance

Shares of NPCE opened at $13.76 on Thursday. The stock has a 50-day simple moving average of $11.84 and a 200-day simple moving average of $8.86. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.77 and a current ratio of 5.59. The stock has a market capitalization of $410.71 million, a PE ratio of -13.76 and a beta of 2.02. NeuroPace has a 1 year low of $5.45 and a 1 year high of $18.15.

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

Insiders Place Their Bets

In other news, insider Martha Morrell sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $15.01, for a total value of $48,032.00. Following the transaction, the insider now owns 87,062 shares of the company’s stock, valued at approximately $1,306,800.62. The trade was a 3.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Financial Advocates Investment Management increased its holdings in shares of NeuroPace by 20.0% in the third 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. JPMorgan Chase & Co. increased its holdings in shares of NeuroPace by 106.3% in the third quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company’s stock valued at $84,000 after purchasing an additional 6,181 shares during the period. Palumbo Wealth Management LLC acquired a new position in shares of NeuroPace in the fourth quarter valued at approximately $129,000. State Street Corp increased its holdings in shares of NeuroPace by 9.1% in the third quarter. State Street Corp now owns 155,490 shares of the company’s stock valued at $1,084,000 after purchasing an additional 12,912 shares during the period. Finally, Barclays PLC increased its holdings in shares of NeuroPace by 346.0% in the third quarter. Barclays PLC now owns 20,633 shares of the company’s stock valued at $144,000 after purchasing an additional 16,007 shares during the period. Institutional investors and hedge funds 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.