electroCore (NASDAQ:ECOR) issued its quarterly earnings data on Tuesday. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.04, Bloomberg Earnings reports. The firm had revenue of $0.62 million during the quarter. electroCore had a negative return on equity of 66.37% and a negative net margin of 4,450.22%.
NASDAQ:ECOR traded up $0.11 during mid-day trading on Thursday, hitting $1.50. 21,395 shares of the company’s stock traded hands, compared to its average volume of 135,313. The stock has a fifty day moving average of $1.56. electroCore has a twelve month low of $1.23 and a twelve month high of $17.99. The company has a market cap of $46.22 million, a P/E ratio of -1.26 and a beta of 2.84. The company has a quick ratio of 10.07, a current ratio of 10.74 and a debt-to-equity ratio of 0.08.
ECOR has been the subject of a number of analyst reports. Cantor Fitzgerald cut electroCore from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $9.00 in a research note on Thursday, May 30th. Zacks Investment Research cut electroCore from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine upgraded electroCore from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Noble Financial restated a “buy” rating and set a $11.00 price objective on shares of electroCore in a research note on Thursday. Finally, JMP Securities decreased their price objective on electroCore to $10.00 and set a “positive” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $13.50.
A number of large investors have recently made changes to their positions in ECOR. BlackRock Inc. lifted its position in shares of electroCore by 1.8% in the fourth quarter. BlackRock Inc. now owns 280,813 shares of the company’s stock valued at $1,758,000 after acquiring an additional 4,934 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of electroCore in the fourth quarter valued at approximately $108,000. Northern Trust Corp lifted its position in shares of electroCore by 7.7% in the fourth quarter. Northern Trust Corp now owns 66,397 shares of the company’s stock valued at $415,000 after acquiring an additional 4,724 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of electroCore by 38.1% in the fourth quarter. Geode Capital Management LLC now owns 45,632 shares of the company’s stock valued at $285,000 after acquiring an additional 12,578 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of electroCore in the fourth quarter valued at approximately $85,000. 15.36% of the stock is currently owned by institutional investors.
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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