electroCore (NASDAQ:ECOR) posted its quarterly earnings results on Tuesday. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.07, Fidelity Earnings reports.
Shares of ECOR stock traded down $1.35 during trading hours on Wednesday, hitting $3.98. The company had a trading volume of 7,092 shares, compared to its average volume of 87,755. electroCore has a fifty-two week low of $4.16 and a fifty-two week high of $20.25. The firm has a market cap of $168.41 million and a P/E ratio of -3.48.
In other news, insider Joseph P. Errico sold 39,592 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $5.52, for a total value of $218,547.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Joseph P. Errico sold 10,408 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $6.97, for a total transaction of $72,543.76. The disclosure for this sale can be found here.
Several research firms have recently weighed in on ECOR. Cantor Fitzgerald reissued an “overweight” rating and issued a $19.00 price target (down previously from $23.00) on shares of electroCore in a research note on Wednesday. BTIG Research cut shares of electroCore from a “buy” rating to a “neutral” rating in a research note on Wednesday. Zacks Investment Research raised shares of electroCore from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Noble Financial began coverage on shares of electroCore in a research note on Wednesday, May 8th. They issued an “outperform” rating and a $19.00 price target for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $20.25.
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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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