NeuroPace, Inc. (NASDAQ:NPCE – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $19.33.
Several analysts have recently weighed in on NPCE shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of NeuroPace in a research note on Tuesday, September 15th. Guggenheim reissued a “neutral” rating on shares of NeuroPace in a research note on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a report on Monday, September 21st. Mizuho started coverage on NeuroPace in a research report on Thursday, July 23rd. They set an “outperform” rating and a $22.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of NeuroPace in a report on Wednesday, July 29th.
Check Out Our Latest Research Report on NPCE
NeuroPace Trading Down 1.5%
NeuroPace (NASDAQ:NPCE – Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. The company had revenue of $22.83 million during the quarter, compared to analyst estimates of $22.61 million. NeuroPace had a negative net margin of 19.34% and a negative return on equity of 105.64%. On average, research analysts anticipate that NeuroPace will post -0.67 EPS for the current year.
Institutional Trading of NeuroPace
Several institutional investors and hedge funds have recently made changes to their positions in NPCE. First Light Asset Management LLC increased its position in NeuroPace by 16.3% during the 2nd quarter. First Light Asset Management LLC now owns 2,861,167 shares of the company’s stock valued at $45,464,000 after purchasing an additional 401,201 shares during the period. Bank of America Corp DE purchased a new stake in shares of NeuroPace in the 2nd quarter worth approximately $322,000. Man Group plc purchased a new stake in shares of NeuroPace in the 2nd quarter worth approximately $1,336,000. Hsbc Holdings PLC bought a new position in shares of NeuroPace during the second quarter valued at approximately $420,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of NeuroPace during the second quarter valued at approximately $351,000. 78.83% of the stock is currently owned by institutional investors.
About NeuroPace
NeuroPace, Inc is a medical technology company focused on developing therapies for people with drug-resistant epilepsy. The company’s principal product is the RNS System, an implantable responsive neurostimulation device designed to monitor brain activity, identify patterns associated with seizures, and deliver targeted electrical stimulation intended to reduce seizure frequency.
The RNS System includes an implanted neurostimulator, leads placed near seizure-producing areas of the brain, and external software and programming tools used by clinicians.
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