Lake Street Sticks to Its Buy Rating for NeuroPace (NPCE)

Lake Street analyst Frank Takkinen reiterated a Buy rating on NeuroPace (NPCE – Research Report) today and set a price target of $20.00. The company’s shares closed last Friday at $13.64.

According to TipRanks, Takkinen is a 2-star analyst with an average return of 0.9% and a 40.98% success rate. Takkinen covers the Healthcare sector, focusing on stocks such as ClearPoint Neuro, Silk Road Medical, and Inotiv.

Currently, the analyst consensus on NeuroPace is a Strong Buy with an average price target of $17.71.

Based on NeuroPace’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $16.43 million and a GAAP net loss of $7.26 million. In comparison, last year the company earned a revenue of $12.79 million and had a GAAP net loss of $11.15 million

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NPCE in relation to earlier this year.

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NeuroPace (NPCE) Company Description:

NeuroPace Inc 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. It derives substantially all its revenue from the sales of RNS System to hospitals facilities (typically Level 4 CECs) that implant RNS System.