NeuroPace, Inc. (NASDAQ:NPCE) Given Average Rating of “Moderate Buy” by Analysts

NeuroPace, Inc. (NASDAQ:NPCE) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.2857.

Several brokerages recently issued reports on NPCE. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of NeuroPace in a research report on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of NeuroPace in a research report on Monday, August 17th. Mizuho started coverage on NeuroPace in a research report on Thursday, July 23rd. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, Guggenheim restated a “neutral” rating on shares of NeuroPace in a report on Wednesday, July 29th.

NeuroPace Stock Up 3.1%

NPCE opened at $15.19 on Friday. NeuroPace has a 12 month low of $8.88 and a 12 month high of $19.60. The company has a 50 day moving average of $15.17 and a 200 day moving average of $15.27. The company has a current ratio of 4.94, a quick ratio of 3.91 and a debt-to-equity ratio of 4.97. The company has a market cap of $521.32 million, a PE ratio of -26.65 and a beta of 1.94.

NeuroPace (NASDAQ:NPCE) last posted its earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. The business had revenue of $22.83 million during the quarter, compared to analyst estimates of $22.61 million. NeuroPace had a negative return on equity of 105.64% and a negative net margin of 19.34%. On average, sell-side analysts expect that NeuroPace will post -0.67 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NPCE. Legal & General Group Plc lifted its position in shares of NeuroPace by 86.0% in the 2nd quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock worth $30,000 after purchasing an additional 1,239 shares during the period. Quantbot Technologies LP bought a new position in shares of NeuroPace in the 2nd quarter worth approximately $35,000. Quarry LP raised its holdings in NeuroPace by 94.9% in the third quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after purchasing an additional 1,872 shares in the last quarter. California State Teachers Retirement System lifted its position in NeuroPace by 311.7% during the 2nd quarter. California State Teachers Retirement System now owns 5,673 shares of the company’s stock valued at $90,000 after acquiring an additional 4,295 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of NeuroPace by 755.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock valued at $119,000 after purchasing an additional 6,800 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

About NeuroPace

NeuroPace, Inc is a medical device company based in Mountain View, California, that develops innovative neuromodulation systems for the treatment of neurological disorders. Founded in the late 1990s out of research at Stanford University, the company’s mission centers on delivering closed-loop, “smart” therapies that monitor and respond to electrical activity in the brain. In 2020, NeuroPace completed its initial public offering and now trades on the NASDAQ under the ticker NPCE.

The company’s flagship product, the RNS® System, is an implantable device designed for adults with medically refractory focal epilepsy.