NeuroPace (NASDAQ:NPCE) Given New $17.00 Price Target at Wells Fargo & Company

NeuroPace (NASDAQ:NPCE) had its price objective raised by Wells Fargo & Company from $13.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

NPCE has been the subject of several other research reports. UBS Group began coverage on NeuroPace in a report on Tuesday, January 21st. They issued a “buy” rating and a $17.00 price target for the company. JPMorgan Chase & Co. lifted their target price on shares of NeuroPace from $9.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.80.

NeuroPace Stock Down 3.4 %

Shares of NeuroPace stock opened at $14.19 on Thursday. 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 company has a market cap of $423.57 million, a P/E ratio of -14.19 and a beta of 2.02. The firm’s 50 day moving average price is $11.75 and its 200-day moving average price is $8.81. NeuroPace has a 52-week low of $5.45 and a 52-week high of $18.15.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $21.06 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted ($0.28) earnings per share. On average, sell-side analysts predict that NeuroPace will post -1 EPS for the current fiscal year.

Insider Transactions at NeuroPace

In other news, insider Martha Morrell sold 3,200 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $15.01, for a total value of $48,032.00. Following the sale, the insider now owns 87,062 shares in the company, valued at $1,306,800.62. This represents a 3.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in NeuroPace by 106.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company’s stock worth $84,000 after purchasing an additional 6,181 shares during the period. Financial Advocates Investment Management grew its holdings in NeuroPace by 20.0% during the third quarter. Financial Advocates Investment Management now owns 18,000 shares of the company’s stock worth $125,000 after acquiring an additional 3,000 shares during the period. Palumbo Wealth Management LLC acquired a new stake in NeuroPace during the fourth quarter worth about $129,000. Barclays PLC raised its position in NeuroPace by 346.0% during the third quarter. Barclays PLC now owns 20,633 shares of the company’s stock valued at $144,000 after acquiring an additional 16,007 shares in the last quarter. Finally, State Street Corp lifted its holdings in NeuroPace by 9.1% in the third quarter. State Street Corp now owns 155,490 shares of the company’s stock valued at $1,084,000 after acquiring an additional 12,912 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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.