ValuEngine upgraded shares of electroCore (NASDAQ:ECOR) from a hold rating to a buy rating in a report released on Thursday morning, ValuEngine reports.
ECOR has been the topic of several other reports. Noble Financial set a $19.00 price objective on shares of electroCore and gave the company a buy rating in a report on Friday, May 31st. Zacks Investment Research raised shares of electroCore from a sell rating to a hold rating in a report on Monday, May 27th. Cantor Fitzgerald downgraded shares of electroCore from an overweight rating to a neutral rating and dropped their price objective for the company from $19.00 to $9.00 in a report on Thursday, May 30th. Finally, BTIG Research downgraded shares of electroCore from a buy rating to a neutral rating in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $14.00.
NASDAQ ECOR traded up $0.05 during trading on Thursday, hitting $1.33. 3,448 shares of the company’s stock traded hands, compared to its average volume of 154,810. The stock has a market capitalization of $38.07 million, a PE ratio of -1.12 and a beta of 2.85. electroCore has a 12-month low of $1.23 and a 12-month high of $17.99. The company has a quick ratio of 10.07, a current ratio of 10.74 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $1.69.
electroCore (NASDAQ:ECOR) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.47) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.07. electroCore had a negative net margin of 4,450.22% and a negative return on equity of 66.37%. On average, research analysts expect that electroCore will post -1.57 earnings per share for the current fiscal year.
In other news, Director Thomas J. Errico purchased 21,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were purchased at an average cost of $1.77 per share, with a total value of $37,170.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 43.78% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund purchased a new stake in shares of electroCore in the fourth quarter worth about $41,000. Valeo Financial Advisors LLC lifted its holdings in shares of electroCore by 101.6% in the second quarter. Valeo Financial Advisors LLC now owns 26,000 shares of the company’s stock worth $52,000 after buying an additional 13,100 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of electroCore in the first quarter worth about $73,000. Two Sigma Investments LP purchased a new stake in shares of electroCore in the fourth quarter worth about $85,000. Finally, Bfsg LLC lifted its holdings in shares of electroCore by 205.9% in the second quarter. Bfsg LLC now owns 52,000 shares of the company’s stock worth $104,000 after buying an additional 35,000 shares in the last quarter. 15.26% of the stock is currently owned by hedge funds and other institutional investors.
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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