JPMorgan Chase & Co. Boosts NeuroPace (NASDAQ:NPCE) Price Target to $14.00

NeuroPace (NASDAQ:NPCE) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $9.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 31.58% from the stock’s previous close.

Separately, Wells Fargo & Company reduced their target price on NeuroPace from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

NeuroPace Price Performance

NeuroPace stock opened at $10.64 on Tuesday. NeuroPace has a 12-month low of $5.45 and a 12-month high of $18.15. The company has a current ratio of 5.59, a quick ratio of 4.77 and a debt-to-equity ratio of 6.03. The firm has a 50-day moving average price of $8.61 and a 200-day moving average price of $7.65. The firm has a market capitalization of $317.58 million, a PE ratio of -10.64 and a beta of 2.05.

NeuroPace (NASDAQ:NPCE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.07. The business had revenue of $21.06 million during the quarter, compared to the consensus estimate of $19.33 million. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. During the same quarter last year, the firm earned ($0.28) earnings per share. As a group, equities research analysts forecast that NeuroPace will post -1 EPS for the current year.

Insiders Place Their Bets

In other NeuroPace news, major shareholder Ltd. Kck sold 4,031 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $6.54, for a total transaction of $26,362.74. Following the transaction, the insider now directly owns 5,521,874 shares in the company, valued at $36,113,055.96. This represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 257,590 shares of company stock worth $1,437,916 in the last ninety days. 22.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On NeuroPace

Several large investors have recently modified their holdings of the business. Rhumbline Advisers purchased a new position in NeuroPace during the second quarter valued at approximately $111,000. Financial Advocates Investment Management boosted its position in NeuroPace by 50.0% during the 2nd quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock valued at $113,000 after acquiring an additional 5,000 shares in the last quarter. Barclays PLC increased its holdings in shares of NeuroPace by 346.0% in the 3rd quarter. Barclays PLC now owns 20,633 shares of the company’s stock valued at $144,000 after acquiring an additional 16,007 shares during the period. XTX Topco Ltd raised its position in shares of NeuroPace by 56.1% in the 2nd quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock worth $182,000 after acquiring an additional 8,643 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of NeuroPace during the 2nd quarter worth $257,000. Institutional investors 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.