NeuroPace (NASDAQ:NPCE) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

NeuroPace (NASDAQ:NPCE) had its price target boosted by stock analysts at Cantor Fitzgerald from $19.00 to $20.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 78.89% from the stock’s current price.

A number of other analysts also recently issued reports on NPCE. JPMorgan Chase & Co. raised their price objective on shares of NeuroPace from $9.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group began coverage on NeuroPace in a research note on Tuesday, January 21st. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on NeuroPace from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.20.

NeuroPace Stock Down 3.9 %

Shares of NASDAQ NPCE opened at $11.18 on Wednesday. The company has a debt-to-equity ratio of 6.03, a current ratio of 5.59 and a quick ratio of 4.77. NeuroPace has a 1 year low of $5.45 and a 1 year high of $15.77. The stock has a market capitalization of $333.70 million, a P/E ratio of -11.18 and a beta of 2.06. The company has a 50-day moving average price of $12.72 and a 200-day moving average price of $9.77.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, March 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.07. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. The company had revenue of $21.47 million for the quarter, compared to analysts’ expectations of $21.14 million. On average, equities research analysts forecast that NeuroPace will post -1 EPS for the current fiscal year.

Insider Activity

In other news, insider Martha Morrell sold 3,200 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $15.01, for a total transaction of $48,032.00. Following the sale, the insider now directly owns 87,062 shares in the company, valued at $1,306,800.62. This represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Ltd. Kck sold 5,270,845 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $9.40, for a total transaction of $49,545,943.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,352,479 shares of company stock worth $50,670,217. 22.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. KCK LTD. purchased a new stake in shares of NeuroPace in the fourth quarter worth $58,981,000. Jane Street Group LLC purchased a new stake in shares of NeuroPace in the 4th quarter valued at about $1,120,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of NeuroPace during the 4th quarter valued at about $639,000. JPMorgan Chase & Co. boosted its position in shares of NeuroPace by 440.4% during the 4th quarter. JPMorgan Chase & Co. now owns 64,826 shares of the company’s stock valued at $725,000 after acquiring an additional 52,829 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of NeuroPace during the fourth quarter worth about $369,000. 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.