Fintel reports that on August 24, 2023, Morgan Stanley upgraded their outlook for NeuroPace (NASDAQ:NPCE) from Underweight to Equal-Weight .
Analyst Price Forecast Suggests 36.66% Upside
As of August 2, 2023, the average one-year price target for NeuroPace is 7.04. The forecasts range from a low of 4.54 to a high of $10.50. The average price target represents an increase of 36.66% from its latest reported closing price of 5.15.
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The projected annual revenue for NeuroPace is 53MM, a decrease of 4.27%. The projected annual non-GAAP EPS is -1.90.
What is the Fund Sentiment?
There are 44 funds or institutions reporting positions in NeuroPace. This is a decrease of 5 owner(s) or 10.20% in the last quarter. Average portfolio weight of all funds dedicated to NPCE is 0.95%, an increase of 13.48%. Total shares owned by institutions decreased in the last three months by 0.88% to 17,623K shares.
What are Other Shareholders Doing?
Kck holds 5,621K shares representing 21.74% ownership of the company. No change in the last quarter.
Orbimed Advisors holds 4,012K shares representing 15.52% ownership of the company. No change in the last quarter.
Soleus Capital Management holds 2,466K shares representing 9.54% ownership of the company. In it's prior filing, the firm reported owning 2,429K shares, representing an increase of 1.52%. The firm increased its portfolio allocation in NPCE by 5.49% over the last quarter.
FCPGX - Fidelity Small Cap Growth Fund holds 1,002K shares representing 3.87% ownership of the company. In it's prior filing, the firm reported owning 1,147K shares, representing a decrease of 14.47%. The firm decreased its portfolio allocation in NPCE by 2.10% over the last quarter.
Millennium Management holds 629K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 732K shares, representing a decrease of 16.33%. The firm decreased its portfolio allocation in NPCE by 28.47% over the last quarter.
NeuroPace Background Information
(This description is provided by the company.)
Based in Mountain View, Calif., NeuroPace is a commercial-stage medical device company focused on transforming the lives of people suffering from epilepsy by reducing or eliminating the occurrence of debilitating seizures. Its novel and differentiated RNS System is the first and only commercially available, brain-responsive platform that delivers personalized, real-time treatment at the seizure source. This platform can drive a better standard of care for patients suffering from drug-resistant epilepsy, and has the potential to offer a more personalized solution and improved outcomes to the large population of patients suffering from other brain disorders.
Additional reading:
- NeuroPace Reports Second Quarter 2023 Financial Results and Increases Full Year 2023 Revenue Guidance Second quarter 2023 revenue of $16.5 million increased 62% year-over-year Full-year revenue guidance increased to $59-$61 million, up from $52-$54 m
- NeuroPace, Inc. 2023 Inducement Plan, Form of Stock Option Grant Notice, and Form of Stock Option Agreement
- Consulting Agreement dated June 28, 2023, by and between NeuroPace and Michael Favet
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