NeuroPace, Inc. (NASDAQ:NPCE) Receives $15.00 Consensus Target Price from Analysts

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $15.00.

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of NeuroPace from $9.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company cut their price target 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 $11.97 on Tuesday. NeuroPace has a 12 month low of $5.45 and a 12 month high of $18.15. 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 firm has a market capitalization of $357.30 million, a PE ratio of -11.97 and a beta of 2.02. The business’s fifty day moving average price is $10.92 and its 200 day moving average price is $8.44.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. The business had revenue of $21.06 million for the quarter, compared to the consensus estimate of $19.33 million. During the same quarter in the prior year, the business posted ($0.28) EPS. On average, sell-side analysts anticipate that NeuroPace will post -1 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Ltd. Kck sold 223,991 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $5.45, for a total value of $1,220,750.95. Following the completion of the sale, the insider now directly owns 5,270,845 shares of the company’s stock, valued at approximately $28,726,105.25. This represents a 4.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.20% of the company’s stock.

Hedge Funds Weigh In On NeuroPace

Several institutional investors have recently added to or reduced their stakes in NPCE. KCK LTD. acquired a new stake in NeuroPace during the 4th quarter worth approximately $58,981,000. Millennium Management LLC raised its stake in shares of NeuroPace by 13.3% during the second quarter. Millennium Management LLC now owns 686,037 shares of the company’s stock worth $5,186,000 after purchasing an additional 80,324 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of NeuroPace during the second quarter worth $257,000. Geode Capital Management LLC grew its position in NeuroPace by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 317,192 shares of the company’s stock valued at $2,211,000 after buying an additional 25,330 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in 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 buying an additional 21,703 shares during the period. 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.