NeuroPace (NASDAQ:NPCE) Given New $4.50 Price Target at Morgan Stanley

NeuroPace (NASDAQ:NPCE – Get Rating) had its target price hoisted by investment analysts at Morgan Stanley from $2.50 to $4.50 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 9.76% from the company’s current price.

Separately, Lake Street Capital initiated coverage on NeuroPace in a research report on Wednesday, February 22nd. They set a “buy” rating and a $10.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, NeuroPace presently has a consensus rating of “Hold” and a consensus target price of $9.70.

NeuroPace Price Performance

NPCE stock opened at $4.10 on Friday. NeuroPace has a 52-week low of $1.22 and a 52-week high of $9.54. The company has a quick ratio of 10.17, a current ratio of 11.08 and a debt-to-equity ratio of 1.20. The stock has a market cap of $102.10 million, a price-to-earnings ratio of -2.14 and a beta of 2.61. The business has a fifty day moving average of $3.47 and a two-hundred day moving average of $3.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nantahala Capital Management LLC lifted its stake in NeuroPace by 58.6% during the 1st quarter. Nantahala Capital Management LLC now owns 485,303 shares of the company’s stock worth $3,984,000 after acquiring an additional 179,397 shares in the last quarter. State Street Corp lifted its position in shares of NeuroPace by 2.1% during the first quarter. State Street Corp now owns 98,717 shares of the company’s stock worth $810,000 after purchasing an additional 2,042 shares in the last quarter. FMR LLC boosted its stake in shares of NeuroPace by 0.8% in the second quarter. FMR LLC now owns 1,418,951 shares of the company’s stock valued at $7,024,000 after purchasing an additional 11,645 shares during the period. Renaissance Technologies LLC acquired a new position in shares of NeuroPace in the second quarter valued at approximately $63,000. Finally, Millennium Management LLC increased its stake in NeuroPace by 19.8% during the 2nd quarter. Millennium Management LLC now owns 506,905 shares of the company’s stock worth $2,509,000 after buying an additional 83,877 shares during the period. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

About NeuroPace

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NeuroPace, Inc operates as a medical device company in the United States. It develops and sells RNS system, a brain-responsive neuromodulation system for treating medically refractory focal epilepsy by delivering personalized real-time treatment at the seizure source. The company's RNS system also records continuous brain activity data; and enables clinicians to monitor patients in person and remotely.