electroCore (ECOR) Cut to Neutral at BTIG Research

electroCore (NASDAQ:ECOR) was downgraded by research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, Marketbeat reports.

Several other brokerages have also commented on ECOR. Zacks Investment Research lowered electroCore from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Noble Financial initiated coverage on electroCore in a research report on Wednesday, May 8th. They set an “outperform” rating and a $19.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $20.25.

Shares of NASDAQ ECOR opened at $3.79 on Wednesday. The stock has a market capitalization of $110.41 million and a price-to-earnings ratio of -3.18. electroCore has a twelve month low of $3.72 and a twelve month high of $20.25.

electroCore (NASDAQ:ECOR) last announced its earnings results on Tuesday, May 14th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. On average, equities analysts predict that electroCore will post -2.05 earnings per share for the current fiscal year.

In related news, insider Joseph P. Errico sold 10,408 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph P. Errico sold 39,592 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $5.52, for a total value of $218,547.84. The disclosure for this sale can be found here.

Institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund bought a new position in electroCore during the 4th quarter worth approximately $41,000. American International Group Inc. lifted its holdings in electroCore by 95.3% in the 1st quarter. American International Group Inc. now owns 7,759 shares of the company’s stock worth $54,000 after buying an additional 3,787 shares during the period. Wsfs Capital Management LLC purchased a new stake in electroCore in the 4th quarter worth approximately $63,000. Rhumbline Advisers purchased a new stake in electroCore in the 1st quarter worth approximately $73,000. Finally, Valeo Financial Advisors LLC purchased a new stake in electroCore in the 1st quarter worth approximately $90,000. Institutional investors and hedge funds own 14.09% of the company’s stock.

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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