electroCore (ECOR) Rating Increased to Hold at Zacks Investment Research

electroCore (NASDAQ:ECOR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, 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. “

Other research analysts have also recently issued reports about the company. Noble Financial began coverage on electroCore in a research report on Wednesday, May 8th. They set an “outperform” rating and a $19.00 price objective for the company. BTIG Research cut electroCore from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 15th. Finally, Cantor Fitzgerald lowered their price objective on electroCore from $23.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. electroCore currently has a consensus rating of “Buy” and an average price target of $20.25.



ECOR traded up $0.12 on Monday, hitting $3.12. 180,115 shares of the company were exchanged, compared to its average volume of 146,826. electroCore has a twelve month low of $2.82 and a twelve month high of $20.25. The stock has a market capitalization of $88.89 million and a price-to-earnings ratio of -2.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 10.74 and a quick ratio of 10.00.

electroCore (NASDAQ:ECOR) last released its earnings results on Tuesday, May 14th. The company reported ($0.47) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.07. On average, research analysts anticipate that electroCore will post -2.02 earnings per share for the current year.

In other news, insider Joseph P. Errico sold 10,408 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $6.97, for a total value of $72,543.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph P. Errico sold 39,592 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were 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 have recently bought and sold shares of the company. New York State Common Retirement Fund purchased a new stake in shares of electroCore in the 4th quarter valued at about $41,000. American International Group Inc. lifted its holdings in shares of electroCore by 95.3% in the 1st quarter. American International Group Inc. now owns 7,759 shares of the company’s stock valued at $54,000 after purchasing an additional 3,787 shares during the last quarter. Wsfs Capital Management LLC purchased a new stake in shares of electroCore in the 4th quarter valued at about $63,000. Rhumbline Advisers purchased a new stake in shares of electroCore in the 1st quarter valued at about $73,000. Finally, Two Sigma Investments LP purchased a new stake in shares of electroCore in the 4th quarter valued at about $85,000. 14.09% of the stock is owned by institutional investors and hedge funds.

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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