Research Analysts Offer Predictions for NeuroPace, Inc.’s FY2024 Earnings (NASDAQ:NPCE)

NeuroPace, Inc. (NASDAQ:NPCE) – Equities researchers at Cantor Fitzgerald raised their FY2024 earnings per share (EPS) estimates for NeuroPace in a note issued to investors on Wednesday, August 14th. Cantor Fitzgerald analyst R. Osborn now anticipates that the company will earn ($1.08) per share for the year, up from their previous estimate of ($1.14). Cantor Fitzgerald has a “Overweight” rating and a $18.00 price objective on the stock. The consensus estimate for NeuroPace’s current full-year earnings is ($1.14) per share.

Other analysts have also issued reports about the company. Wells Fargo & Company dropped their price target on NeuroPace from $20.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Morgan Stanley decreased their target price on NeuroPace from $9.50 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

NeuroPace Price Performance

Shares of NASDAQ NPCE opened at $6.87 on Monday. The company has a market capitalization of $197.64 million, a PE ratio of -5.77 and a beta of 1.80. The company has a quick ratio of 5.56, a current ratio of 6.43 and a debt-to-equity ratio of 4.05. The stock’s 50 day moving average price is $7.16 and its 200-day moving average price is $10.80. NeuroPace has a twelve month low of $4.21 and a twelve month high of $18.15.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.03. The business had revenue of $19.26 million for the quarter, compared to analysts’ expectations of $18.30 million. NeuroPace had a negative net margin of 45.61% and a negative return on equity of 173.62%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.36) earnings per share.

Hedge Funds Weigh In On NeuroPace

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new position in shares of NeuroPace during the 1st quarter valued at $155,000. Acadian Asset Management LLC purchased a new stake in NeuroPace during the first quarter valued at about $621,000. Vanguard Group Inc. lifted its holdings in NeuroPace by 18.3% during the first quarter. Vanguard Group Inc. now owns 488,618 shares of the company’s stock valued at $6,450,000 after purchasing an additional 75,512 shares during the last quarter. Millennium Management LLC boosted its position in 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 period. Finally, XTX Topco Ltd increased its stake in shares of NeuroPace by 56.1% in the second quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock worth $182,000 after purchasing an additional 8,643 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

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.