Brokerages Set NeuroPace, Inc. (NASDAQ:NPCE) Price Target at $14.00

NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $14.00.

Several analysts have recently commented on NPCE shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $18.00 target price on shares of NeuroPace in a report on Wednesday. Morgan Stanley lowered their target price on shares of NeuroPace from $9.50 to $8.00 and set an "equal weight" rating for the company in a report on Monday, July 15th. Finally, Wells Fargo & Company lowered their target price on shares of NeuroPace from $20.00 to $15.00 and set an "overweight" rating for the company in a report on Wednesday.

NeuroPace Stock Down 3.2 %

NPCE traded down $0.22 during trading on Friday, hitting $6.87. 41,293 shares of the company's stock were exchanged, compared to its average volume of 109,280. The company has a quick ratio of 5.56, a current ratio of 6.43 and a debt-to-equity ratio of 4.05. The business's 50 day moving average is $7.16 and its two-hundred day moving average is $10.83. NeuroPace has a fifty-two week low of $4.21 and a fifty-two week high of $18.15. The stock has a market cap of $197.64 million, a P/E ratio of -5.77 and a beta of 1.80.

NeuroPace (NASDAQ:NPCE - Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.03. NeuroPace had a negative net margin of 45.61% and a negative return on equity of 173.62%. The firm had revenue of $19.26 million for the quarter, compared to the consensus estimate of $18.30 million. During the same quarter in the prior year, the company posted ($0.36) earnings per share. The business's revenue was up 16.6% on a year-over-year basis. As a group, equities analysts expect that NeuroPace will post -1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeuroPace

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers bought a new position in NeuroPace during the second quarter worth about $111,000. Financial Advocates Investment Management boosted its position in NeuroPace by 50.0% during the second quarter. Financial Advocates Investment Management now owns 15,000 shares of the company's stock worth $113,000 after purchasing an additional 5,000 shares during the period. Hillsdale Investment Management Inc. bought a new position in NeuroPace during the first quarter worth about $155,000. XTX Topco Ltd boosted its position in NeuroPace by 56.1% during the second quarter. XTX Topco Ltd now owns 24,055 shares of the company's stock worth $182,000 after purchasing an additional 8,643 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in NeuroPace during the second quarter worth about $257,000. Institutional investors own 78.83% of the company's stock.

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.