electroCore (ECOR) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

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.

A hedge fund recently raised its stake in electroCore stock. Geode Capital Management LLC lifted its stake in electroCore, Inc. (NASDAQ:ECOR) by 38.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 45,632 shares of the company’s stock after acquiring an additional 12,578 shares during the quarter. Geode Capital Management LLC owned 0.16% of electroCore worth $285,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 14.09% of the company’s stock.

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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About electroCore

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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