Cantor Fitzgerald Boosts Earnings Estimates for NeuroPace

NeuroPace, Inc. (NASDAQ:NPCE) – Equities researchers at Cantor Fitzgerald raised their FY2024 EPS estimates for shares of NeuroPace in a research note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will earn ($0.97) per share for the year, up from their prior forecast of ($1.08). Cantor Fitzgerald currently has a “Overweight” rating and a $18.00 price target on the stock. The consensus estimate for NeuroPace’s current full-year earnings is ($1.00) per share.

NeuroPace (NASDAQ:NPCE) last posted its earnings results on Tuesday, November 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.07. The company had revenue of $21.06 million during the quarter, compared to analyst estimates of $19.33 million. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. During the same period in the prior year, the company earned ($0.28) earnings per share.

Separately, Wells Fargo & Company reduced their price target on shares of NeuroPace from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.60.

NeuroPace Price Performance

Shares of NPCE opened at $9.18 on Monday. 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 stock has a fifty day moving average price of $7.01 and a 200 day moving average price of $7.32. The company has a market cap of $274.00 million, a P/E ratio of -9.18 and a beta of 1.79.

Institutional Investors Weigh In On NeuroPace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in NeuroPace by 346.0% during the 3rd quarter. Barclays PLC now owns 20,633 shares of the company’s stock valued at $144,000 after purchasing an additional 16,007 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of NeuroPace by 8.7% in the third 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 period. State Street Corp boosted its stake in NeuroPace by 9.1% during the third quarter. State Street Corp now owns 155,490 shares of the company’s stock valued at $1,084,000 after buying an additional 12,912 shares in the last quarter. Financial Advocates Investment Management grew its holdings in NeuroPace by 20.0% during the third quarter. Financial Advocates Investment Management now owns 18,000 shares of the company’s stock worth $125,000 after acquiring an additional 3,000 shares during the period. Finally, Millennium Management LLC raised its position in NeuroPace by 13.3% in the second quarter. Millennium Management LLC now owns 686,037 shares of the company’s stock worth $5,186,000 after acquiring an additional 80,324 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Insider Transactions at NeuroPace

In other news, major shareholder Ltd. Kck sold 223,991 shares of the company’s stock in a transaction that occurred on 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 257,590 shares of company stock valued at $1,437,916. 22.20% of the stock is currently owned by corporate insiders.

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.