Brokerages Set NeuroPace, Inc. (NASDAQ:NPCE) Target Price at $14.60

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $14.60.

NPCE has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $18.00 price target on shares of NeuroPace in a report on Wednesday, August 14th. Wells Fargo & Company cut their target price on shares of NeuroPace from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th.

NeuroPace Stock Performance

NASDAQ NPCE opened at $10.60 on Monday. The company has a debt-to-equity ratio of 6.03, a current ratio of 5.59 and a quick ratio of 4.77. The company has a market cap of $316.41 million, a P/E ratio of -10.60 and a beta of 1.79. The stock has a 50-day moving average of $7.39 and a two-hundred day moving average of $7.32. NeuroPace has a 1-year low of $5.45 and a 1-year high of $18.15.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.07. The firm had revenue of $21.06 million for the quarter, compared to the consensus estimate of $19.33 million. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. During the same period in the prior year, the firm earned ($0.28) EPS. As a group, analysts anticipate that NeuroPace will post -1 EPS for the current year.

Insider Activity

In other news, major shareholder Ltd. Kck sold 223,991 shares of NeuroPace stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $5.45, for a total transaction of $1,220,750.95. Following the sale, the insider now owns 5,270,845 shares in the company, valued at approximately $28,726,105.25. The trade was a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 257,590 shares of company stock worth $1,437,916. Corporate insiders own 22.20% of the company’s stock.

Hedge Funds Weigh In On NeuroPace

Institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its stake in NeuroPace by 13.3% in the second quarter. Millennium Management LLC now owns 686,037 shares of the company’s stock valued at $5,186,000 after purchasing an additional 80,324 shares during the period. Vanguard Group Inc. increased its position in NeuroPace by 18.3% in the 1st quarter. Vanguard Group Inc. now owns 488,618 shares of the company’s stock valued at $6,450,000 after acquiring an additional 75,512 shares during the period. Bank of New York Mellon Corp purchased a new stake in NeuroPace during the 2nd quarter valued at approximately $257,000. Geode Capital Management LLC lifted its position in NeuroPace by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 317,192 shares of the company’s stock worth $2,211,000 after acquiring an additional 25,330 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of NeuroPace by 46.0% in the 2nd quarter. Acadian Asset Management LLC now owns 68,918 shares of the company’s stock valued at $520,000 after purchasing 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.