NeuroPace (NASDAQ:NPCE) Raised to Strong-Buy at Cantor Fitzgerald

NeuroPace (NASDAQ:NPCE) was upgraded by equities researchers at Cantor Fitzgerald to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of NeuroPace from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. UBS Group reaffirmed a “buy” rating on shares of NeuroPace in a report on Wednesday, January 14th. Wells Fargo & Company boosted their price objective on NeuroPace from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. HC Wainwright raised their target price on NeuroPace from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, Leerink Partners reaffirmed an “outperform” rating and set a $19.00 target price on shares of NeuroPace in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.67.

NeuroPace Trading Up 0.9%

Shares of NPCE opened at $13.95 on Wednesday. NeuroPace has a fifty-two week low of $7.56 and a fifty-two week high of $18.98. The business has a 50-day moving average of $15.63 and a 200 day moving average of $13.27. The firm has a market cap of $464.67 million, a P/E ratio of -21.14 and a beta of 1.86. The company has a debt-to-equity ratio of 3.17, a quick ratio of 3.94 and a current ratio of 4.86.

NeuroPace (NASDAQ:NPCE) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. The firm had revenue of $26.59 million during the quarter, compared to analyst estimates of $24.79 million. NeuroPace had a negative net margin of 21.47% and a negative return on equity of 103.49%. As a group, research analysts forecast that NeuroPace will post -1 EPS for the current year.

Institutional Trading of NeuroPace

A number of hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. increased its stake in NeuroPace by 83.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company’s stock valued at $27,000 after acquiring an additional 1,118 shares during the last quarter. Legal & General Group Plc lifted its stake in NeuroPace by 86.0% during the second 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 last quarter. Quantbot Technologies LP bought a new stake in NeuroPace during the second quarter worth about $35,000. Quarry LP boosted its holdings in shares of NeuroPace by 94.9% in the 3rd 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. Finally, Police & Firemen s Retirement System of New Jersey increased its position in shares of NeuroPace by 72.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,371 shares of the company’s stock valued at $71,000 after purchasing an additional 2,668 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

NeuroPace Company Profile

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.