Cantor Fitzgerald Issues Positive Forecast for NeuroPace (NASDAQ:NPCE) Stock Price

NeuroPace (NASDAQ:NPCE) had its price objective upped by Cantor Fitzgerald from $19.00 to $20.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on NPCE. JPMorgan Chase & Co. raised their price objective on NeuroPace from $9.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company raised their price objective on NeuroPace from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, UBS Group started coverage on NeuroPace in a research note on Tuesday, January 21st. They set a “buy” rating and a $17.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.20.

NeuroPace Price Performance

NPCE stock opened at $11.63 on Wednesday. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.77 and a current ratio of 5.59. NeuroPace has a 1 year low of $5.45 and a 1 year high of $15.77. The firm has a market cap of $347.13 million, a P/E ratio of -11.63 and a beta of 2.05. The stock has a 50-day simple moving average of $12.72 and a 200-day simple moving average of $9.76.

NeuroPace (NASDAQ:NPCE) last posted its earnings results on Tuesday, March 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.07. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. The business had revenue of $21.47 million during the quarter, compared to analyst estimates of $21.14 million. On average, equities analysts predict that NeuroPace will post -1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NeuroPace news, insider Martha Morrell sold 3,200 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $15.01, for a total transaction of $48,032.00. Following the transaction, the insider now owns 87,062 shares of the company’s stock, valued at $1,306,800.62. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ltd. Kck sold 5,270,845 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $9.40, for a total value of $49,545,943.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,352,479 shares of company stock valued at $50,670,217 in the last quarter. Insiders own 22.20% of the company’s stock.

Institutional Trading of NeuroPace

Several hedge funds have recently made changes to their positions in NPCE. BNP Paribas Financial Markets acquired a new stake in NeuroPace in the fourth quarter worth $29,000. Wells Fargo & Company MN boosted its holdings in NeuroPace by 54.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,483 shares of the company’s stock worth $73,000 after buying an additional 2,279 shares in the last quarter. MetLife Investment Management LLC acquired a new position in NeuroPace in the 4th quarter worth approximately $103,000. Cubist Systematic Strategies LLC acquired a new position in NeuroPace in the 4th quarter worth approximately $112,000. Finally, Birchview Capital LP acquired a new position in NeuroPace in the 4th quarter worth approximately $112,000. 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.