Cantor Fitzgerald Issues Positive Forecast for NeuroPace (NASDAQ:NPCE) Stock Price

NeuroPace (NASDAQ:NPCE) had its price objective lifted by Cantor Fitzgerald from $19.00 to $20.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also commented on NPCE. JPMorgan Chase & Co. boosted their price target on shares of NeuroPace from $9.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. UBS Group began coverage on shares of NeuroPace in a research note on Tuesday, January 21st. They issued a “buy” rating and a $17.00 target price for the company. Finally, Wells Fargo & Company boosted their target price on shares of NeuroPace from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, NeuroPace has an average rating of “Moderate Buy” and an average target price of $15.20.

NeuroPace Price Performance

Shares of NeuroPace stock opened at $11.63 on Wednesday. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.77 and a current ratio of 5.59. The firm’s 50-day simple moving average is $12.72 and its 200-day simple moving average is $9.76. NeuroPace has a twelve month low of $5.45 and a twelve month high of $15.77. The firm has a market cap of $347.13 million, a P/E ratio of -11.63 and a beta of 2.05.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.07. The firm had revenue of $21.47 million for the quarter, compared to analyst estimates of $21.14 million. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. As a group, research analysts expect that NeuroPace will post -1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Ltd. Kck sold 5,270,845 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $9.40, for a total transaction of $49,545,943.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Martha Morrell sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $15.01, for a total transaction of $48,032.00. Following the transaction, the insider now owns 87,062 shares of the company’s stock, valued at approximately $1,306,800.62. This represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,352,479 shares of company stock valued at $50,670,217 over the last ninety days. Insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Two Sigma Advisers LP acquired a new position in NeuroPace during the fourth quarter valued at approximately $117,000. Two Sigma Investments LP acquired a new position in shares of NeuroPace in the fourth quarter valued at approximately $293,000. Point72 Asset Management L.P. acquired a new position in shares of NeuroPace in the fourth quarter valued at approximately $369,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of NeuroPace in the fourth quarter valued at approximately $639,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of NeuroPace in the fourth quarter valued at approximately $112,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

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.