NeuroPace (NASDAQ:NPCE – Get Free Report)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $20.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 30.63% from the stock’s current price.
Several other research firms have also recently issued reports on NPCE. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th. Mizuho assumed coverage on NeuroPace in a research report on Thursday, July 23rd. They set an “outperform” rating and a $22.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.29.
Check Out Our Latest Analysis on NeuroPace
NeuroPace Stock Performance
NeuroPace (NASDAQ:NPCE – Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%.The firm had revenue of $22.00 million for the quarter, compared to analysts’ expectations of $21.65 million. As a group, research analysts predict that NeuroPace will post -0.54 EPS for the current fiscal year.
Institutional Investors Weigh In On NeuroPace
A number of institutional investors have recently added to or reduced their stakes in NPCE. Legal & General Group Plc lifted its stake in shares of NeuroPace by 86.0% in the 2nd quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after purchasing an additional 1,239 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of NeuroPace during the 2nd quarter valued at $35,000. Quarry LP raised its position in NeuroPace by 94.9% in the third quarter. Quarry LP now owns 3,845 shares of the company’s stock valued at $40,000 after purchasing an additional 1,872 shares during the period. SG Americas Securities LLC purchased a new stake in shares of NeuroPace in the fourth quarter worth about $118,000. Finally, New York State Common Retirement Fund raised its holdings in shares of NeuroPace by 755.6% during the 4th quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock valued at $119,000 after buying an additional 6,800 shares during the period. 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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