NeuroPace, Inc. (NASDAQ:NPCE) Receives Average Rating of “Buy” from Brokerages

NeuroPace, Inc. (NASDAQ:NPCE) has been given an average recommendation of “Buy” by the six analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $24.00.

Several brokerages have weighed in on NPCE. Robert W. Baird assumed coverage on NeuroPace in a research report on Tuesday, August 17th. They set an “outperform” rating and a $26.00 price target on the stock. SVB Leerink reissued a “buy” rating and issued a $30.00 price target on shares of NeuroPace in a research report on Sunday, November 14th. Wells Fargo & Company reduced their target price on shares of NeuroPace from $28.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, November 11th. Morgan Stanley cut shares of NeuroPace from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $24.00 to $17.00 in a report on Thursday, November 11th. Finally, Zacks Investment Research cut shares of NeuroPace from a “hold” rating to a “sell” rating in a report on Thursday, November 18th.

Shares of NPCE stock opened at $12.01 on Thursday. The company has a quick ratio of 18.32, a current ratio of 16.20 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average price of $16.33. NeuroPace has a 1 year low of $10.59 and a 1 year high of $27.38.

NeuroPace (NASDAQ:NPCE) last announced its quarterly earnings results on Wednesday, November 10th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.04). Analysts forecast that NeuroPace will post 9.73 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of NPCE. Bank of America Corp DE acquired a new stake in shares of NeuroPace in the second quarter valued at approximately $48,000. Deutsche Bank AG acquired a new stake in shares of NeuroPace in the second quarter valued at approximately $98,000. Bank of New York Mellon Corp grew its position in shares of NeuroPace by 52.0% in the third quarter. Bank of New York Mellon Corp now owns 17,480 shares of the company’s stock valued at $277,000 after purchasing an additional 5,981 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of NeuroPace during the second quarter valued at approximately $143,000. Finally, Geode Capital Management LLC lifted its stake in shares of NeuroPace by 6.3% during the third quarter. Geode Capital Management LLC now owns 117,960 shares of the company’s stock valued at $1,869,000 after buying an additional 6,980 shares during the period. Institutional investors own 44.65% of the company’s stock.

NeuroPace Company Profile

NeuroPace, Inc operates as a medical device company in the United States. The company develops and sells RNS system, a brain-responsive neuromodulation system for treating medically refractory focal epilepsy by delivering personalized real-time treatment at the seizure source. Its RNS system also records continuous brain activity data and enables clinicians to monitor patients in person and remotely.

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Analyst Recommendations for NeuroPace (NASDAQ:NPCE)

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