NeuroPace (NASDAQ:NPCE) Upgraded at KeyCorp

NeuroPace (NASDAQ:NPCE) was upgraded by investment analysts at KeyCorp to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks reports.

Other analysts have also issued reports about the company. Raymond James Financial set a $21.00 price objective on NeuroPace in a report on Tuesday. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of NeuroPace in a research report on Wednesday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of NeuroPace in a research note on Tuesday. Guggenheim reiterated a “neutral” rating on shares of NeuroPace in a research report on Wednesday, July 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.33.

NeuroPace Trading Up 0.9%

NeuroPace stock opened at $14.28 on Thursday. The firm has a market cap of $490.09 million, a PE ratio of -25.05 and a beta of 1.94. NeuroPace has a 12 month low of $9.22 and a 12 month high of $19.60. The stock’s 50 day simple moving average is $14.64 and its two-hundred day simple moving average is $15.24. The company has a current ratio of 4.94, a quick ratio of 3.91 and a debt-to-equity ratio of 4.97.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new stake in shares of NeuroPace in the second quarter valued at approximately $41,000. SG Americas Securities LLC increased its holdings in shares of NeuroPace by 52.9% in the first quarter. SG Americas Securities LLC now owns 11,640 shares of the company’s stock valued at $153,000 after purchasing an additional 4,029 shares during the last quarter. Algert Global LLC lifted its position in NeuroPace by 2.9% during the second quarter. Algert Global LLC now owns 184,774 shares of the company’s stock worth $2,936,000 after buying an additional 5,218 shares in the last quarter. Legato Capital Management LLC lifted its position in NeuroPace by 9.7% during the fourth quarter. Legato Capital Management LLC now owns 69,165 shares of the company’s stock worth $1,068,000 after buying an additional 6,120 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in NeuroPace during the second quarter worth $157,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

NeuroPace Company Profile

NeuroPace, Inc is a medical technology company focused on developing therapies for people with drug-resistant epilepsy. The company’s principal product is the RNS System, an implantable responsive neurostimulation device designed to monitor brain activity, identify patterns associated with seizures, and deliver targeted electrical stimulation intended to reduce seizure frequency.

The RNS System includes an implanted neurostimulator, leads placed near seizure-producing areas of the brain, and external software and programming tools used by clinicians.