electroCore (NASDAQ:ECOR) Lifted to “Buy” at ValuEngine

electroCore (NASDAQ:ECOR) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday, ValuEngine reports.

Other equities analysts also recently issued reports about the stock. Noble Financial set a $19.00 target price on shares of electroCore and gave the company a “buy” rating in a report on Friday, May 31st. Zacks Investment Research upgraded shares of electroCore from a “sell” rating to a “hold” rating in a report on Monday, May 27th. BTIG Research downgraded shares of electroCore from a “buy” rating to a “neutral” rating in a report on Wednesday, May 15th. Finally, Cantor Fitzgerald downgraded shares of electroCore from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $9.00 in a report on Thursday, May 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. electroCore currently has an average rating of “Hold” and an average target price of $14.00.

NASDAQ:ECOR traded up $0.02 during mid-day trading on Thursday, hitting $1.29. 104,504 shares of the company’s stock traded hands, compared to its average volume of 151,713. The company has a current ratio of 10.74, a quick ratio of 10.07 and a debt-to-equity ratio of 0.08. The business has a 50 day simple moving average of $1.69. electroCore has a 1 year low of $1.23 and a 1 year high of $17.99. The stock has a market capitalization of $41.78 million, a P/E ratio of -1.08 and a beta of 2.85.

electroCore (NASDAQ:ECOR) last posted its earnings results on Tuesday, May 14th. The company reported ($0.47) earnings per share 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%. Research analysts anticipate that electroCore will post -1.57 earnings per share for the current year.

In other electroCore news, Director Thomas J. Errico bought 21,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was purchased at an average cost of $1.77 per share, for a total transaction of $37,170.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 43.78% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of electroCore by 1.8% during the 4th quarter. BlackRock Inc. now owns 280,813 shares of the company’s stock worth $1,758,000 after purchasing an additional 4,934 shares during the last quarter. Crown Advisors Management Inc. acquired a new stake in shares of electroCore during the 1st quarter worth about $546,000. Northern Trust Corp boosted its stake in shares of electroCore by 7.7% during the 4th quarter. Northern Trust Corp now owns 66,397 shares of the company’s stock worth $415,000 after purchasing an additional 4,724 shares during the last quarter. Bfsg LLC boosted its stake in shares of electroCore by 205.9% during the 2nd quarter. Bfsg LLC now owns 52,000 shares of the company’s stock worth $104,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of electroCore by 38.1% during the 4th quarter. Geode Capital Management LLC now owns 45,632 shares of the company’s stock worth $285,000 after purchasing an additional 12,578 shares during the last quarter. 15.26% of the stock is currently owned by 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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