NeuroPace (NASDAQ:NPCE) Price Target Raised to $14.00

NeuroPace (NASDAQ:NPCE) had its target price boosted by JPMorgan Chase & Co. from $9.00 to $14.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Separately, Wells Fargo & Company cut their target price on shares of NeuroPace from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, NeuroPace has an average rating of “Moderate Buy” and an average price target of $14.50.

NeuroPace Stock Performance

Shares of NeuroPace stock opened at $11.14 on Tuesday. NeuroPace has a 12 month low of $5.45 and a 12 month high of $18.15. The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03. The stock has a market cap of $332.51 million, a PE ratio of -11.14 and a beta of 2.05. The business has a fifty day simple moving average of $8.71 and a 200-day simple moving average of $7.67.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, November 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.07. The company had revenue of $21.06 million for the quarter, compared to analysts’ expectations of $19.33 million. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. During the same quarter in the previous year, the business posted ($0.28) EPS. On average, sell-side analysts anticipate that NeuroPace will post -1 EPS for the current fiscal year.

Insider Buying and Selling at NeuroPace

In other NeuroPace news, major shareholder Ltd. Kck sold 223,991 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $5.45, for a total transaction of $1,220,750.95. Following the transaction, the insider now directly owns 5,270,845 shares in the company, valued at $28,726,105.25. This trade represents a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 257,590 shares of company stock worth $1,437,916 over the last ninety days. 22.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers acquired a new stake in NeuroPace in the 2nd quarter worth approximately $111,000. Financial Advocates Investment Management lifted its stake in shares of NeuroPace by 50.0% in the second quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock worth $113,000 after buying an additional 5,000 shares during the last quarter. Barclays PLC lifted its stake in shares of NeuroPace by 346.0% in the third quarter. Barclays PLC now owns 20,633 shares of the company’s stock worth $144,000 after buying an additional 16,007 shares during the last quarter. XTX Topco Ltd grew its stake in NeuroPace by 56.1% in the 2nd quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock valued at $182,000 after buying an additional 8,643 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in NeuroPace in the 2nd quarter worth $257,000. Institutional investors and hedge funds 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.