Cantor Fitzgerald Reiterates “Overweight” Rating for NeuroPace (NASDAQ:NPCE)

NeuroPace (NASDAQ:NPCE)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a report released on Thursday, Benzinga reports. They presently have a $18.00 target price on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 103.16% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Leerink Partnrs reiterated an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th. SVB Leerink began coverage on shares of NeuroPace in a research report on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 price target on the stock. Wells Fargo & Company upgraded shares of NeuroPace from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $16.00 to $20.00 in a research report on Thursday, March 14th. Finally, Morgan Stanley raised their price target on shares of NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.67.

NeuroPace Stock Performance

NPCE traded down $3.74 during trading on Thursday, hitting $8.86. The stock had a trading volume of 165,694 shares, compared to its average volume of 103,792. The firm has a market cap of $254.46 million, a PE ratio of -7.22 and a beta of 2.06. NeuroPace has a 12 month low of $3.80 and a 12 month high of $18.15. The company has a current ratio of 5.71, a quick ratio of 5.02 and a debt-to-equity ratio of 2.76. The company has a 50 day simple moving average of $13.75 and a 200-day simple moving average of $12.02.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, March 5th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.10. The firm had revenue of $18.01 million for the quarter, compared to the consensus estimate of $17.74 million. NeuroPace had a negative net margin of 50.38% and a negative return on equity of 153.76%. Analysts expect that NeuroPace will post -1.14 EPS for the current year.

Insider Activity

In related news, major shareholder Orbimed Advisors Llc sold 14,069 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $14.01, for a total value of $197,106.69. Following the transaction, the insider now directly owns 3,504,898 shares in the company, valued at $49,103,620.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 525,345 shares of company stock valued at $7,583,250 over the last three months. 27.50% of the stock is owned by insiders.

Hedge Funds Weigh In On NeuroPace

Several large investors have recently bought and sold shares of the business. Kent Lake Capital LLC raised its holdings in NeuroPace by 16.8% in the fourth quarter. Kent Lake Capital LLC now owns 670,946 shares of the company’s stock worth $6,917,000 after purchasing an additional 96,529 shares during the period. Citigroup Inc. acquired a new stake in NeuroPace in the third quarter worth $29,000. EAM Investors LLC acquired a new stake in NeuroPace in the third quarter worth $1,378,000. Finally, Barclays PLC raised its holdings in NeuroPace by 9,085.6% in the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock worth $105,000 after purchasing an additional 10,721 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.