NeuroPace (NASDAQ:NPCE) Price Target Cut to $15.00 by Analysts at Wells Fargo & Company

NeuroPace (NASDAQ:NPCE) had its price target lowered by Wells Fargo & Company from $20.00 to $15.00 in a report released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald restated an overweight rating and set a $18.00 price target on shares of NeuroPace in a report on Thursday, May 9th. Morgan Stanley decreased their price target on NeuroPace from $9.50 to $8.00 and set an equal weight rating for the company in a research note on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $14.00.

NeuroPace Stock Performance

Shares of NeuroPace stock traded up $0.26 during trading on Wednesday, hitting $7.03. 12,754 shares of the company’s stock traded hands, compared to its average volume of 109,463. The company has a debt-to-equity ratio of 4.05, a current ratio of 6.43 and a quick ratio of 5.56. NeuroPace has a 1 year low of $4.21 and a 1 year high of $18.15. The stock has a market capitalization of $202.24 million, a P/E ratio of -6.08 and a beta of 1.80. The business has a 50-day simple moving average of $7.14 and a 200-day simple moving average of $10.94.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.03. NeuroPace had a negative return on equity of 173.62% and a negative net margin of 45.61%. The firm had revenue of $19.26 million for the quarter, compared to the consensus estimate of $18.30 million. During the same quarter last year, the company earned ($0.36) earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, analysts forecast that NeuroPace will post -1.14 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of NeuroPace by 18.3% in the 1st quarter. Vanguard Group Inc. now owns 488,618 shares of the company’s stock worth $6,450,000 after acquiring an additional 75,512 shares in the last quarter. Acadian Asset Management LLC increased its position in NeuroPace by 46.0% during the 2nd quarter. Acadian Asset Management LLC now owns 68,918 shares of the company’s stock valued at $520,000 after buying an additional 21,703 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in NeuroPace during the 2nd quarter valued at about $257,000. XTX Topco Ltd raised its stake in NeuroPace by 56.1% in the second 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, Financial Advocates Investment Management boosted its holdings in 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 acquiring an additional 5,000 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

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.