electroCore (ECOR) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of electroCore (NASDAQ:ECOR) from a sell rating to a hold rating in a research report released on Monday morning, Zacks.com reports.

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. “

Several other brokerages also recently commented on ECOR. Noble Financial assumed coverage on shares of electroCore in a research report on Wednesday, May 8th. They set an outperform rating and a $19.00 price objective for the company. Cantor Fitzgerald lowered their price objective on shares of electroCore from $23.00 to $19.00 and set an overweight rating for the company in a research report on Wednesday, May 15th. Finally, BTIG Research downgraded shares of electroCore from a buy rating to a neutral rating in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. electroCore currently has an average rating of Buy and a consensus target price of $20.25.

Shares of ECOR opened at $2.70 on Monday. electroCore has a one year low of $2.66 and a one year high of $20.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 10.07 and a current ratio of 10.74.

electroCore (NASDAQ:ECOR) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.47) EPS for the quarter, beating the 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%. Research analysts forecast that electroCore will post -1.92 EPS for the current year.

In other electroCore news, insider Joseph P. Errico sold 10,408 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $6.97, for a total transaction of $72,543.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph P. Errico sold 39,592 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $5.52, for a total transaction of $218,547.84. The disclosure for this sale can be found here.

Hedge funds and other institutional investors have recently bought and sold shares of the business. New York State Common Retirement Fund bought a new stake in shares of electroCore during the fourth quarter worth $41,000. American International Group Inc. grew its stake in shares of electroCore by 95.3% during the first 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 last quarter. Wsfs Capital Management LLC bought a new stake in shares of electroCore during the fourth quarter worth $63,000. Rhumbline Advisers bought a new stake in shares of electroCore during the first quarter worth $73,000. Finally, Two Sigma Investments LP bought a new stake in shares of electroCore during the fourth quarter worth $85,000. 15.54% 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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