Analysts Set NeuroPace, Inc. (NASDAQ:NPCE) Price Target at $14.00

NeuroPace, Inc. (NASDAQ:NPCE) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $14.00.

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

NeuroPace Stock Down 0.1 %

Shares of NPCE stock opened at $6.96 on Wednesday. The stock’s 50-day simple moving average is $7.41 and its 200-day simple moving average is $9.45. The company has a debt-to-equity ratio of 5.97, a quick ratio of 5.47 and a current ratio of 6.37. The firm has a market capitalization of $200.23 million, a PE ratio of -5.85 and a beta of 1.80. NeuroPace has a fifty-two week low of $5.75 and a fifty-two week high of $18.15.

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

Institutional Investors Weigh In On NeuroPace

A number of institutional investors have recently modified their holdings of the company. Financial Advocates Investment Management grew its stake in 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 purchasing an additional 5,000 shares in the last quarter. XTX Topco Ltd lifted its holdings in 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 last quarter. Hillsdale Investment Management Inc. purchased a new stake in NeuroPace during the 1st quarter worth about $155,000. Rhumbline Advisers purchased a new stake in NeuroPace during the 2nd quarter worth about $111,000. Finally, Acadian Asset Management LLC lifted its holdings in 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 buying an additional 21,703 shares during the last quarter. 78.83% of the stock is 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.