Brokerages 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 analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $15.67.

Several brokerages have recently weighed in on NPCE. SVB Leerink assumed coverage on NeuroPace in a research note on Tuesday, January 30th. They set an “outperform” rating and a $22.00 target price for the company. Morgan Stanley increased their price objective on NeuroPace from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Wells Fargo & Company raised NeuroPace from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $16.00 to $20.00 in a research note on Thursday, March 14th. Lake Street Capital restated a “buy” rating and issued a $12.00 target price on shares of NeuroPace in a report on Wednesday, December 27th. Finally, Leerink Partnrs restated an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th.

Insider Buying and Selling

In other NeuroPace news, major shareholder Orbimed Advisors Llc sold 461,899 shares of NeuroPace stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $14.49, for a total value of $6,692,916.51. Following the transaction, the insider now directly owns 3,542,068 shares in the company, valued at approximately $51,324,565.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other NeuroPace news, insider Martha Morrell sold 1,923 shares of NeuroPace stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $15.08, for a total value of $28,998.84. Following the transaction, the insider now directly owns 96,014 shares in the company, valued at approximately $1,447,891.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Orbimed Advisors Llc sold 461,899 shares of NeuroPace stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $14.49, for a total value of $6,692,916.51. Following the completion of the sale, the insider now owns 3,542,068 shares in the company, valued at $51,324,565.32. The disclosure for this sale can be found here. Insiders have sold 464,649 shares of company stock worth $6,734,345 in the last quarter. 27.50% of the stock is owned by insiders.

Hedge Funds Weigh In On NeuroPace

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in NeuroPace by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 413,106 shares of the company’s stock worth $4,259,000 after purchasing an additional 27,021 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of NeuroPace in the fourth quarter worth $111,000. Townsquare Capital LLC acquired a new position in shares of NeuroPace in the fourth quarter worth $164,000. Barclays PLC raised its holdings in shares of NeuroPace by 28.9% in the fourth quarter. Barclays PLC now owns 13,971 shares of the company’s stock worth $144,000 after acquiring an additional 3,132 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of NeuroPace in the fourth quarter worth $248,000. 78.83% of the stock is owned by institutional investors and hedge funds.

NeuroPace Price Performance

NPCE opened at $14.04 on Friday. The business’s 50-day moving average is $14.65 and its two-hundred day moving average is $11.33. NeuroPace has a 1 year low of $3.80 and a 1 year high of $18.15. The company has a debt-to-equity ratio of 2.76, a current ratio of 5.71 and a quick ratio of 5.02. The firm has a market capitalization of $368.97 million, a PE ratio of -10.97 and a beta of 2.09.

NeuroPace (NASDAQ:NPCE) last issued its earnings results on Tuesday, March 5th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.10. The firm had revenue of $18.01 million for the quarter, compared to analyst estimates of $17.74 million. NeuroPace had a negative return on equity of 153.76% and a negative net margin of 50.38%. Research analysts anticipate that NeuroPace will post -1.14 earnings per share for the current fiscal year.

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.