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On Wednesday, Cantor Fitzgerald analyst Ross Osborn increased the price target for NeuroPace Inc (NASDAQ:NPCE) to $20.00, up from the previous target of $19.00. Currently trading at $22.08, the stock has shown strong momentum with a 64.65% gain over the past six months. The firm continues to hold an Overweight rating on the stock, signaling confidence in its performance. According to InvestingPro data, analyst targets for NPCE range from $20 to $57.
NeuroPace, known for its RNS System and DIXI Medical (TASE:BLWV) products, reported total revenue of $21.5 million, showing a year-over-year growth of approximately 19%. This revenue figure slightly exceeded Cantor Fitzgerald’s projection of $21.6 million and surpassed the FactSet consensus estimate of $20.7 million. The growth was attributed to increased sales of the company’s medical devices. InvestingPro analysis shows the company maintaining strong momentum with a 21.65% revenue growth over the last twelve months.
Furthermore, NeuroPace successfully completed a capital raise following its Investor Day. The funds from this raise are expected to enable the company to repurchase shares and provide a financial bridge towards achieving positive cash flow. With a "GREAT" Financial Health Score according to InvestingPro, and operating with moderate debt levels, Cantor Fitzgerald’s analysis suggests that this strategic move will support NeuroPace’s commitment to maintaining its product development timeline for the NAUTILUS project.
The analyst also noted the company’s increasing adoption and utilization rates within focal markets. With plans to expand into new markets, including pediatric and generalized sectors, NeuroPace appears to be on a clear path to further growth and market penetration, which underpins the firm’s decision to reiterate its Overweight rating. The company, currently valued at $388.94M, has demonstrated strong market performance with a 31.27% return year-to-date.
In other recent news, Rigel Pharmaceuticals (NASDAQ:RIGL) reported robust financial results for the fourth quarter and full year 2024, surpassing both firm and consensus estimates. The company achieved earnings per share of $0.80 for the fourth quarter and $0.99 for the year, exceeding projections by H.C. Wainwright and consensus estimates. Rigel’s fourth-quarter revenue reached $57.6 million, with notable product revenues from Tavalisse, Rezlidhia, and Gavreto. The company also reported a full-year net income of $17.5 million and increased its cash balance by over $20 million. H.C. Wainwright maintained a Buy rating on Rigel with a price target of $57, reflecting the company’s strong performance and future growth potential. Meanwhile, Cantor Fitzgerald reiterated a Neutral rating with a $20 price target, emphasizing a comprehensive assessment of Rigel’s financial health. Looking forward, Rigel plans to expand its commercial portfolio and pursue international partnerships to introduce its products to global markets.
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