NeuroPace, Inc. (NASDAQ:NPCE) Receives $15.67 Consensus PT from Brokerages

NeuroPace, Inc. (NASDAQ:NPCE) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $15.67.

A number of analysts recently issued reports on the company. Wells Fargo & Company raised NeuroPace from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $16.00 to $20.00 in a research report on Thursday, March 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $18.00 price target on shares of NeuroPace in a research report on Thursday, May 9th.

Insider Activity at NeuroPace

In other NeuroPace news, major shareholder Orbimed Advisors Llc sold 14,069 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $14.01, for a total transaction of $197,106.69. Following the sale, the insider now directly owns 3,504,898 shares in the company, valued at $49,103,620.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 525,345 shares of company stock worth $7,583,250 in the last three months. 22.20% of the stock is owned by company insiders.

Institutional Trading of NeuroPace

Large investors have recently modified their holdings of the stock. Kent Lake Capital LLC boosted its holdings in NeuroPace by 285.0% in the third quarter. Kent Lake Capital LLC now owns 574,417 shares of the company’s stock valued at $5,589,000 after purchasing an additional 425,212 shares during the period. Vanguard Group Inc. raised its position in NeuroPace by 18.3% in the 1st quarter. Vanguard Group Inc. now owns 488,618 shares of the company’s stock valued at $6,450,000 after purchasing an additional 75,512 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of NeuroPace in the 1st quarter valued at about $621,000. Hillsdale Investment Management Inc. acquired a new position in shares of NeuroPace during the first quarter worth about $155,000. Finally, Barclays PLC grew its position in shares of NeuroPace by 9,085.6% during the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock worth $105,000 after buying an additional 10,721 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

NeuroPace Stock Performance

NeuroPace stock opened at $7.24 on Friday. The firm has a 50 day simple moving average of $8.32 and a 200-day simple moving average of $11.78. The stock has a market cap of $208.29 million, a price-to-earnings ratio of -6.08 and a beta of 1.80. The company has a debt-to-equity ratio of 4.05, a current ratio of 6.43 and a quick ratio of 5.56. NeuroPace has a 1-year low of $3.91 and a 1-year high of $18.15.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.32) earnings per share for the quarter, hitting the consensus estimate of ($0.32). NeuroPace had a negative return on equity of 173.62% and a negative net margin of 45.61%. The company had revenue of $18.12 million during the quarter, compared to analyst estimates of $18.12 million. On average, analysts expect that NeuroPace will post -1.14 EPS for the current year.

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.