NeuroPace (NASDAQ:NPCE – Free Report) had its price target hoisted by HC Wainwright from $19.00 to $20.00 in a report released on Friday, MarketBeat.com reports. The firm currently has a buy rating on the stock.
Several other equities analysts have also recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a research report on Friday, March 27th. Wall Street Zen cut shares of NeuroPace from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Wells Fargo & Company raised shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Cantor Fitzgerald raised shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.83.
NeuroPace Stock Down 2.7%
NeuroPace (NASDAQ:NPCE – Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $22.00 million during the quarter, compared to the consensus estimate of $21.65 million. NeuroPace had a negative net margin of 21.67% and a negative return on equity of 108.20%. On average, equities research analysts predict that NeuroPace will post -0.51 earnings per share for the current year.
Institutional Trading of NeuroPace
Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its holdings in NeuroPace by 86.0% during the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock worth $30,000 after buying an additional 1,239 shares in the last quarter. Quantbot Technologies LP purchased a new stake in NeuroPace during the second quarter worth about $35,000. Quarry LP boosted its holdings in NeuroPace by 94.9% during the third quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after buying an additional 1,872 shares in the last quarter. SG Americas Securities LLC purchased a new stake in NeuroPace during the fourth quarter worth about $118,000. Finally, New York State Common Retirement Fund boosted its holdings in NeuroPace by 755.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock worth $119,000 after buying an additional 6,800 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.
NeuroPace Company Profile
NeuroPace, Inc is a medical device company based in Mountain View, California, that develops innovative neuromodulation systems for the treatment of neurological disorders. Founded in the late 1990s out of research at Stanford University, the company’s mission centers on delivering closed-loop, “smart” therapies that monitor and respond to electrical activity in the brain. In 2020, NeuroPace completed its initial public offering and now trades on the NASDAQ under the ticker NPCE.
The company’s flagship product, the RNS® System, is an implantable device designed for adults with medically refractory focal epilepsy.
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