Brokerages Set NeuroPace, Inc. (NASDAQ:NPCE) Target Price at $15.67

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $15.67.

A number of research analysts recently issued reports on the company. Wells Fargo & Company upgraded NeuroPace from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $16.00 to $20.00 in a research note on Thursday, March 14th. Cantor Fitzgerald restated an “overweight” rating and set a $18.00 target price on shares of NeuroPace in a research note on Thursday, May 9th.

NeuroPace Stock Performance

Shares of NASDAQ NPCE opened at $7.24 on Friday. The company has a current ratio of 6.43, a quick ratio of 5.56 and a debt-to-equity ratio of 4.05. NeuroPace has a 12-month low of $3.91 and a 12-month high of $18.15. The firm has a market capitalization of $208.29 million, a price-to-earnings ratio of -6.08 and a beta of 1.80. The firm has a 50 day moving average of $8.32 and a 200 day moving average of $11.78.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.32) EPS for the quarter, hitting the consensus estimate of ($0.32). NeuroPace had a negative return on equity of 173.62% and a negative net margin of 45.61%. The firm had revenue of $18.12 million during the quarter, compared to analyst estimates of $18.12 million. On average, research analysts anticipate that NeuroPace will post -1.14 earnings per share for the current year.

Insider Activity

In related news, major shareholder Orbimed Advisors Llc sold 461,899 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $14.49, for a total transaction of $6,692,916.51. Following the completion of the transaction, the insider now owns 3,542,068 shares in the company, valued at $51,324,565.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 525,345 shares of company stock worth $7,583,250 over the last quarter. Insiders own 22.20% of the company’s stock.

Institutional Trading of NeuroPace

Several hedge funds have recently modified their holdings of the company. Citigroup Inc. purchased a new position in shares of NeuroPace in the 3rd quarter worth approximately $29,000. Barclays PLC grew its holdings in shares of 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 last quarter. Hillsdale Investment Management Inc. purchased a new position in NeuroPace in the 1st quarter worth about $155,000. Acadian Asset Management LLC bought a new stake in NeuroPace during the 1st quarter valued at about $621,000. Finally, Vanguard Group Inc. boosted 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 buying an additional 75,512 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

NeuroPace Company Profile

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.