JPMorgan Chase & Co. Forecasts Strong Price Appreciation for NeuroPace (NASDAQ:NPCE) Stock

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

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

NeuroPace Trading Up 4.7 %

Shares of NeuroPace stock opened at $11.14 on Tuesday. NeuroPace has a 1 year low of $5.45 and a 1 year high of $18.15. The company’s fifty day simple moving average is $8.71 and its 200-day simple moving average is $7.67. The company has a market cap of $332.51 million, a price-to-earnings ratio of -11.14 and a beta of 2.05. The company has a current ratio of 5.59, a quick ratio of 4.77 and a debt-to-equity ratio of 6.03.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.07. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. The company had revenue of $21.06 million for the quarter, compared to analyst estimates of $19.33 million. During the same period last year, the business posted ($0.28) EPS. As a group, sell-side analysts expect that NeuroPace will post -1 EPS for the current year.

Insider Buying and Selling at NeuroPace

In other NeuroPace news, major shareholder Ltd. Kck sold 223,991 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 5,270,845 shares in the company, valued at $28,726,105.25. This represents a 4.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 257,590 shares of company stock valued at $1,437,916. 22.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NeuroPace

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in NeuroPace by 13.3% during the 2nd quarter. Millennium Management LLC now owns 686,037 shares of the company’s stock valued at $5,186,000 after purchasing an additional 80,324 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of NeuroPace in the second quarter valued at approximately $257,000. Geode Capital Management LLC raised its stake in shares of NeuroPace by 8.7% in the third quarter. Geode Capital Management LLC now owns 317,192 shares of the company’s stock valued at $2,211,000 after acquiring an additional 25,330 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of NeuroPace by 46.0% in the 2nd quarter. Acadian Asset Management LLC now owns 68,918 shares of the company’s stock worth $520,000 after acquiring an additional 21,703 shares in the last quarter. Finally, Barclays PLC grew its position in NeuroPace by 346.0% during the 3rd quarter. Barclays PLC now owns 20,633 shares of the company’s stock worth $144,000 after acquiring an additional 16,007 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

NeuroPace Company Profile

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.