Brokerages Set NeuroPace, Inc. (NASDAQ:NPCE) Price Target at $14.00

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $14.00.

A number of research analysts have weighed in on NPCE shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $18.00 price objective on shares of NeuroPace in a research report on Wednesday, August 14th. Wells Fargo & Company lowered their price target on NeuroPace from $20.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Finally, Morgan Stanley dropped their price objective on NeuroPace from $9.50 to $8.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th.

NeuroPace Trading Down 3.9 %

NASDAQ NPCE opened at $6.42 on Friday. The company has a fifty day simple moving average of $7.19 and a two-hundred day simple moving average of $8.78. NeuroPace has a 12-month low of $5.75 and a 12-month high of $18.15. The company has a current ratio of 6.37, a quick ratio of 5.47 and a debt-to-equity ratio of 5.97. The stock has a market cap of $184.69 million, a P/E ratio of -5.39 and a beta of 1.78.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.03. The business had revenue of $19.26 million during the quarter, compared to analysts’ expectations of $18.30 million. NeuroPace had a negative return on equity of 195.26% and a negative net margin of 41.63%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.36) EPS. On average, analysts forecast that NeuroPace will post -1.08 earnings per share for the current year.

Hedge Funds Weigh In On NeuroPace

A number of hedge funds have recently made changes to their positions in the company. Millennium Management LLC increased its position 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 in the last quarter. XTX Topco Ltd boosted its stake in NeuroPace by 56.1% during the 2nd quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock worth $182,000 after purchasing an additional 8,643 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of NeuroPace by 46.0% during the second quarter. Acadian Asset Management LLC now owns 68,918 shares of the company’s stock worth $520,000 after buying an additional 21,703 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of NeuroPace in the second quarter valued at about $111,000. Finally, Financial Advocates Investment Management lifted its stake in shares of NeuroPace by 50.0% in the second quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock worth $113,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

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.