NeuroPace: Strong 2025 Execution, Reimbursement Tailwinds, and Label Expansion Upside Support Reiterated Buy and $19 Target

In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on NeuroPace, with a price target of $19.00.

Yi Chen has given his Buy rating due to a combination of factors, including NeuroPace’s strong 2025 execution and attractive growth outlook for 2026. The company delivered 25% year-over-year revenue expansion in 2025, driven by robust adoption of its RNS system, and management now guides to 20–22% growth for the core neuromodulation franchise next year alongside margin improvement and a focus on higher‑value procedures.

Yi Chen’s view is further supported by favorable reimbursement changes that meaningfully increase Medicare payments for both initial RNS implants and replacement procedures starting in 2026, which should enhance profitability. In addition, a pending FDA decision on label expansion for idiopathic generalized epilepsy, backed by NAUTILUS data showing a 77% median reduction in generalized tonic‑clonic seizures with a solid safety profile, provides a significant upside catalyst that underpins the reiterated Buy rating and $19 price target.

Chen covers the Healthcare sector, focusing on stocks such as RegenXBio, NeuroPace, and Alpha Tau Medical Ltd. According to TipRanks, Chen has an average return of -0.8% and a 38.28% success rate on recommended stocks.

In another report released on March 4, Lake Street also reiterated a Buy rating on the stock with a $20.00 price target.