Cantor Fitzgerald Reaffirms Overweight Rating for NeuroPace (NASDAQ:NPCE)

NeuroPace (NASDAQ:NPCE)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research note issued on Wednesday, Benzinga reports. They currently have a $18.00 target price on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 137.78% from the company’s previous close.

Several other equities research analysts also recently commented on NPCE. Wells Fargo & Company lowered their target price on shares of NeuroPace from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of NeuroPace from $9.50 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, NeuroPace currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

NeuroPace Trading Up 4.0 %

NASDAQ NPCE traded up $0.29 during trading hours on Wednesday, hitting $7.57. The company’s stock had a trading volume of 7,925 shares, compared to its average volume of 106,301. The stock has a fifty day moving average of $7.13 and a 200 day moving average of $10.97. NeuroPace has a twelve month low of $4.21 and a twelve month high of $18.15. The firm has a market capitalization of $217.77 million, a P/E ratio of -6.36 and a beta of 1.80. The company has a quick ratio of 5.56, a current ratio of 6.43 and a debt-to-equity ratio of 4.05.

NeuroPace (NASDAQ:NPCE) last issued its earnings results on Tuesday, August 13th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.03. NeuroPace had a negative net margin of 45.61% and a negative return on equity of 173.62%. The firm had revenue of $19.26 million during the quarter, compared to the consensus estimate of $18.30 million. During the same quarter in the prior year, the firm earned ($0.36) earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. Equities research analysts forecast that NeuroPace will post -1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of NeuroPace by 18.3% during the 1st quarter. Vanguard Group Inc. now owns 488,618 shares of the company’s stock worth $6,450,000 after purchasing an additional 75,512 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of NeuroPace by 46.0% during the 2nd quarter. Acadian Asset Management LLC now owns 68,918 shares of the company’s stock worth $520,000 after purchasing an additional 21,703 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of NeuroPace during the 2nd quarter worth about $257,000. XTX Topco Ltd boosted its holdings in shares of 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 buying an additional 8,643 shares during the period. Finally, Financial Advocates Investment Management boosted its holdings in shares of NeuroPace by 50.0% during the 2nd quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock worth $113,000 after buying an additional 5,000 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

About NeuroPace

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.