NeuroPace (NPCE)
Provides implanted brain-responsive stimulation and data tools for adults with drug-resistant focal epilepsy.
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Sells the RNS System to hospitals for adults with drug-resistant focal epilepsy, supported by data-management tools. Revenue is concentrated in system sales within a single operating segment, while hospital reimbursement and marketed indications shape care delivery.
The RNS System combines an implanted neurostimulator, cortical strip and depth leads, a Patient Remote Monitor, and clinician software. It records intracranial EEG, detects patient-specific abnormal patterns, and delivers responsive stimulation for adults with drug-resistant focal epilepsy.
Sales are made to hospital facilities, and the business is U.S.-focused. The PDMS, nSight Platform, and FDA-approved ECoG Assistant help clinicians review RNS data; ECoG Assistant identifies ECoGs of interest.
Operations remain a single reportable segment centered on RNS. Hospital reimbursement for implantation and ongoing care shapes access, while the current marketed indication excludes generalized epilepsy and patients aged 12–17.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 17, 2026 | KeyBanc | Initiate | Rating: —Target: — | Target: $18 |
| Sep 15, 2026 | Raymond James | Target | Target: — | Target: $21 |
| Jul 23, 2026 | Mizuho Securities | Target | Target: — | Target: $22 |
| May 15, 2026 | H.C. Wainwright | Target | Target: $19 | Target: $20 |
| Jan 27, 2026 | H.C. Wainwright | Target | Target: — | Target: $19 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $51.7M · Total debt $69.9M · Total assets $97.0M · Shareholders' equity $11.9M
- Revenue
- $22.8M
- Operating income
- −$5.1M
- Net income
- −$6.2M
No dividends on record.
| Institutions | ≈ 77.67% | 26.66M shares | |
|---|---|---|---|
| 115 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 3.07% | 1.05M shares | |
| 11 holders · as of Sep 21, 2026 | |||
| Other | ≈ 19.26% | 6.61M shares | |
| remainder | |||
34.32M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Polar Capital Holdings PLCInstitution | 9.61% | 3.30M | as of Jun 30, 2026 |
Soleus Capital Management, L.P.Institution | 8.48% | 2.91M | as of Jun 30, 2026 |
First Light Asset Management, LLCInstitution | 8.34% | 2.86M | as of Jun 30, 2026 |
Morgan StanleyInstitution | 7.73% | 2.65M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 7.22% | 2.48M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 15, 2025 | Martha Morrell | officer: CHIEF MEDICAL OFFICER | −25,000 | $15.97 |
- LivaNova
VNS Therapy alternative for drug-resistant focal epilepsy
- Medtronic
DBS alternative for adult drug-resistant focal epilepsy
- NeuroOne Medical Technologies
sEEG-guided ablation alternative in epilepsy care
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NeuroPace | $14.68 | +0.96% | $495.7M | — | — | 5.0 | −3.0% |
| LivaNova | $78.25 | +0.10% | $4.29B | 23.1 | 17.8 | 2.9 | +10.8% |
| Medtronic | $90.95 | −0.87% | $117.44B | 22.6 | 15.2 | 3.1 | +13.7% |
| NeuroOne Medical Technologies | $1.38 | +5.77% | $11.3M | — | — | 1.1 | +16.3% |
| Median | 22.8 | 16.5 | 2.9 | +13.7% |