NeuroPace (NASDAQ:NPCE) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

NeuroPace (NASDAQ:NPCE) announced its quarterly earnings results on Tuesday. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03, Briefing.com reports. The firm had revenue of $19.26 million during the quarter, compared to the consensus estimate of $18.30 million. NeuroPace had a negative return on equity of 173.62% and a negative net margin of 45.61%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.36) earnings per share. NeuroPace updated its FY 2024 guidance to EPS.

NeuroPace Trading Down 12.5 %

Shares of NPCE traded down $0.91 on Wednesday, hitting $6.37. 474,653 shares of the stock traded hands, compared to its average volume of 109,293. NeuroPace has a 1 year low of $4.21 and a 1 year high of $18.15. The firm has a market capitalization of $183.25 million, a P/E ratio of -6.18 and a beta of 1.80. The stock’s 50 day moving average is $7.13 and its two-hundred day moving average is $10.97. The company has a quick ratio of 5.56, a current ratio of 6.43 and a debt-to-equity ratio of 4.05.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NPCE shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 price target on shares of NeuroPace in a research report on Wednesday. Wells Fargo & Company lowered their price objective on shares of NeuroPace from $20.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley reduced their target price on shares of NeuroPace from $9.50 to $8.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, NeuroPace currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

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.