In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on NeuroPace, with a price target of $18.00.
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Yi Chen has given his Buy rating due to a combination of factors, primarily focusing on the promising results from the NAUTILUS trial. The 18-month data from this trial demonstrated a significant 77% median reduction in generalized tonic-clonic seizures among patients with drug-resistant idiopathic generalized epilepsy, which is a notable improvement for this challenging patient population. The strong endorsement from both physicians and patients further supports the effectiveness of the RNS system.
Additionally, despite the NAUTILUS study not meeting its primary effectiveness endpoint at 12 months, it did achieve significant improvements in several secondary endpoints. This includes a 79% median reduction in seizures, surpassing previous results in focal epilepsy trials that led to FDA approval. Considering the Breakthrough Device designation and the unmet needs in this patient group, Chen believes there is potential for FDA consideration of conditional approval, supporting the Buy rating and the $18 price target.
In another report released yesterday, Lake Street also reiterated a Buy rating on the stock with a $20.00 price target.