electroCore (NASDAQ:ECOR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Zacks.com reports. The firm presently has a $1.75 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 3.55% from the stock’s current price.
According to Zacks, “Electrocore, LLC operates as a bio-electronic medicine company. It reseraches and develops therapeutic technologies based in neurology and rheumatology. Electrocore, LLC is based in NJ, United States. “
A number of other analysts have also weighed in on the stock. Evercore ISI reiterated a “buy” rating and set a $24.00 target price on shares of electroCore in a report on Tuesday, August 13th. Noble Financial reiterated a “buy” rating and set a $11.00 target price on shares of electroCore in a report on Thursday. BTIG Research reiterated a “hold” rating on shares of electroCore in a report on Wednesday, August 14th. JMP Securities dropped their target price on shares of electroCore to $10.00 and set a “positive” rating for the company in a report on Thursday. Finally, Cantor Fitzgerald lowered shares of electroCore from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $9.00 in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. electroCore currently has an average rating of “Buy” and an average price target of $11.15.
Shares of electroCore stock traded up $0.05 during trading on Monday, reaching $1.69. 149,360 shares of the stock were exchanged, compared to its average volume of 178,436. The company has a quick ratio of 10.07, a current ratio of 6.63 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average is $1.53 and its 200 day moving average is $4.50. The firm has a market cap of $44.69 million, a price-to-earnings ratio of -1.42 and a beta of 2.84. electroCore has a 1 year low of $1.23 and a 1 year high of $17.99.
electroCore (NASDAQ:ECOR) last posted its earnings results on Tuesday, August 13th. The company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.04. The company had revenue of $0.62 million during the quarter. electroCore had a negative net margin of 4,450.22% and a negative return on equity of 90.27%. Equities analysts forecast that electroCore will post -1.3 earnings per share for the current year.
In other news, Director Thomas J. Errico bought 21,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was bought at an average cost of $1.77 per share, for a total transaction of $37,170.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 43.78% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp lifted its holdings in electroCore by 7.7% in the fourth quarter. Northern Trust Corp now owns 66,397 shares of the company’s stock worth $415,000 after buying an additional 4,724 shares during the period. BlackRock Inc. lifted its holdings in electroCore by 1.8% in the fourth quarter. BlackRock Inc. now owns 280,813 shares of the company’s stock worth $1,758,000 after buying an additional 4,934 shares during the period. Brighton Jones LLC lifted its holdings in shares of electroCore by 48.8% during the first quarter. Brighton Jones LLC now owns 30,471 shares of the company’s stock valued at $213,000 after purchasing an additional 10,000 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of electroCore during the first quarter valued at approximately $73,000. Finally, Geode Capital Management LLC lifted its holdings in shares of electroCore by 38.1% during the fourth quarter. Geode Capital Management LLC now owns 45,632 shares of the company’s stock valued at $285,000 after purchasing an additional 12,578 shares during the last quarter. Institutional investors and hedge funds own 15.52% of the company’s stock.
electroCore Company Profile
electroCore, Inc, a bioelectronic medicine company, engages in developing a range of patient-administered non-invasive vagus nerve (VNS) stimulation therapies for the treatment of various conditions in neurology, rheumatology, and other fields. The company is developing gammaCore, a prescription-only non-invasive VNS therapy for the acute treatment of pain associated with migraine and episodic cluster headache in adults.
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