Wells Fargo & Company Forecasts Strong Price Appreciation for NeuroPace (NASDAQ:NPCE) Stock

NeuroPace (NASDAQ:NPCE) had its price objective boosted by equities researchers at Wells Fargo & Company from $13.00 to $17.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 19.80% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. UBS Group assumed coverage on shares of NeuroPace in a research report on Tuesday, January 21st. They set a “buy” rating and a $17.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of NeuroPace from $9.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, NeuroPace has a consensus rating of “Moderate Buy” and an average target price of $16.00.

NeuroPace Trading Down 3.4 %

Shares of NASDAQ:NPCE traded down $0.50 during mid-day trading on Thursday, hitting $14.19. The stock had a trading volume of 462,912 shares, compared to its average volume of 167,953. NeuroPace has a 12-month low of $5.45 and a 12-month high of $18.15. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.77 and a current ratio of 5.59. The company has a market cap of $423.57 million, a PE ratio of -14.19 and a beta of 2.02. The company’s 50 day moving average is $11.65 and its 200-day moving average is $8.78.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $19.33 million. During the same period in the previous year, the firm posted ($0.28) earnings per share. On average, sell-side analysts predict that NeuroPace will post -1 EPS for the current year.

Insider Transactions at NeuroPace

In other news, insider Martha Morrell sold 3,200 shares of the stock in a transaction that occurred 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 directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.20% of the company’s stock.

Institutional Trading of NeuroPace

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Palumbo Wealth Management LLC bought a new stake in shares of NeuroPace in the 4th quarter worth about $129,000. Financial Advocates Investment Management lifted its holdings in NeuroPace by 27.8% during the 4th quarter. Financial Advocates Investment Management now owns 23,000 shares of the company’s stock valued at $257,000 after purchasing an additional 5,000 shares during the last quarter. KCK LTD. bought a new stake in shares of NeuroPace in the fourth quarter valued at about $58,981,000. JPMorgan Chase & Co. lifted its position in NeuroPace by 106.3% during the third 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. Finally, Barclays PLC raised its stake in NeuroPace by 346.0% during the third quarter. Barclays PLC now owns 20,633 shares of the company’s stock worth $144,000 after acquiring an additional 16,007 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

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.