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

by · The Markets Daily

NeuroPace (NASDAQ:NPCE – Get Free Report) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $18.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 20.96% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Leerink Partners restated an “outperform” rating and set a $19.00 target price on shares of NeuroPace in a research report on Wednesday, November 5th. UBS Group reaffirmed a “buy” rating and issued a $18.00 price objective on shares of NeuroPace in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of NeuroPace in a research report on Wednesday, October 8th. Zacks Research downgraded NeuroPace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, Wells Fargo & Company lifted their price objective on NeuroPace from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NeuroPace presently has a consensus rating of “Moderate Buy” and an average target price of $17.83.

Get Our Latest Research Report on NeuroPace

NeuroPace Trading Up 1.6%

NPCE traded up $0.27 during mid-day trading on Wednesday, reaching $16.54. The stock had a trading volume of 43,414 shares, compared to its average volume of 250,078. The stock has a market capitalization of $550.78 million, a P/E ratio of -21.72 and a beta of 1.85. The company has a debt-to-equity ratio of 3.17, a quick ratio of 3.94 and a current ratio of 4.86. The firm’s fifty day simple moving average is $12.63 and its two-hundred day simple moving average is $11.04. NeuroPace has a 52 week low of $7.56 and a 52 week high of $18.98.

NeuroPace (NASDAQ:NPCE – Get Free Report) last released its earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. The company had revenue of $27.35 million during the quarter, compared to the consensus estimate of $24.64 million. NeuroPace had a negative return on equity of 136.60% and a negative net margin of 25.28%. On average, equities analysts predict that NeuroPace will post -1 EPS for the current year.

Institutional Investors Weigh In On NeuroPace

Several institutional investors have recently added to or reduced their stakes in NPCE. Ameritas Investment Partners Inc. boosted its stake in NeuroPace by 83.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company’s stock worth $27,000 after purchasing an additional 1,118 shares during the period. Legal & General Group Plc lifted its holdings in shares of NeuroPace by 86.0% in the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after purchasing an additional 1,239 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of NeuroPace during the second quarter worth about $35,000. Quarry LP grew its holdings in shares of NeuroPace by 94.9% during the third quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after buying an additional 1,872 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in shares of NeuroPace by 72.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 6,371 shares of the company’s stock worth $71,000 after buying an additional 2,668 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

NeuroPace Company Profile

(Get Free Report)

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.

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