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

Shares of NeuroPace, Inc. (NASDAQ:NPCE) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $15.67.

A number of research analysts have weighed in on NPCE shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $18.00 target price on shares of NeuroPace in a report on Thursday, May 9th. Morgan Stanley upped their target price on NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Finally, Wells Fargo & Company upgraded NeuroPace from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $16.00 to $20.00 in a report on Thursday, March 14th.

NeuroPace Trading Up 8.0 %

NASDAQ NPCE opened at $7.56 on Friday. The stock has a 50-day moving average of $8.83 and a 200-day moving average of $11.86. The firm has a market cap of $217.50 million, a PE ratio of -6.35 and a beta of 1.80. 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 1-year low of $3.91 and a 1-year high of $18.15.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.32) EPS for the quarter, meeting analysts’ consensus estimates of ($0.32). The business had revenue of $18.12 million during the quarter, compared to analyst estimates of $18.12 million. NeuroPace had a negative return on equity of 173.62% and a negative net margin of 45.61%. As a group, sell-side analysts forecast that NeuroPace will post -1.14 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Orbimed Advisors Llc sold 14,069 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $14.01, for a total value of $197,106.69. Following the transaction, the insider now directly owns 3,504,898 shares of the company’s stock, valued at approximately $49,103,620.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 525,345 shares of company stock worth $7,583,250 in the last 90 days. Insiders own 22.20% of the company’s stock.

Hedge Funds Weigh In On NeuroPace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. bought a new position in NeuroPace in the 3rd quarter valued at approximately $29,000. Barclays PLC lifted its holdings in shares of NeuroPace by 9,085.6% during the 3rd quarter. Barclays PLC now owns 10,839 shares of the company’s stock valued at $105,000 after buying an additional 10,721 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of NeuroPace during the 1st quarter valued at $155,000. Acadian Asset Management LLC bought a new position in shares of NeuroPace during the 1st quarter valued at $621,000. Finally, Vanguard Group Inc. lifted its holdings in shares of NeuroPace by 18.3% during 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 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.