electroCore (NASDAQ:ECOR) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of electroCore (NASDAQ:ECOR) from a hold rating to a buy rating in a research report released on Monday morning, Zacks.com reports. The firm currently has $1.75 price objective on the stock.

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 analysts have also recently issued research reports about the stock. Evercore ISI reissued a buy rating and set a $24.00 target price on shares of electroCore in a research note on Tuesday, August 13th. JMP Securities cut their target price on shares of electroCore to $10.00 and set a positive rating for the company in a research note on Thursday, August 15th. Noble Financial reissued a buy rating and set a $11.00 target price on shares of electroCore in a research note on Thursday, August 15th. BTIG Research reissued a hold rating on shares of electroCore in a research note on Wednesday, August 14th. Finally, ValuEngine raised shares of electroCore from a hold rating to a buy rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. electroCore currently has an average rating of Buy and a consensus target price of $11.15.

ECOR stock opened at $1.82 on Monday. The stock has a market capitalization of $48.53 million, a P/E ratio of -1.53 and a beta of 2.84. The firm has a 50-day simple moving average of $1.52 and a 200-day simple moving average of $4.45. The company has a quick ratio of 5.93, a current ratio of 6.63 and a debt-to-equity ratio of 0.04. electroCore has a 52 week low of $1.23 and a 52 week high of $17.99.

electroCore (NASDAQ:ECOR) last released its earnings results on Tuesday, August 13th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.04. The business had revenue of $0.62 million during the quarter. electroCore had a negative net margin of 4,450.22% and a negative return on equity of 90.27%. On average, analysts expect that electroCore will post -1.3 earnings per share for the current year.

In other electroCore news, Director Thomas J. Errico acquired 18,974 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average price of $1.62 per share, with a total value of $30,737.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas J. Errico acquired 21,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were acquired at an average cost of $1.77 per share, with a total value of $37,170.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 49,974 shares of company stock valued at $85,108. 43.78% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ECOR. Rockefeller Capital Management L.P. purchased a new stake in electroCore during the 2nd quarter valued at about $28,000. Bronfman E.L. Rothschild L.P. purchased a new stake in electroCore during the 2nd quarter valued at about $50,000. Valeo Financial Advisors LLC grew its stake in electroCore by 101.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 26,000 shares of the company’s stock valued at $52,000 after acquiring an additional 13,100 shares in the last quarter. Rhumbline Advisers purchased a new stake in electroCore during the 1st quarter valued at about $73,000. Finally, Brighton Jones LLC grew its stake in electroCore by 49.2% during the 2nd quarter. Brighton Jones LLC now owns 45,471 shares of the company’s stock valued at $91,000 after acquiring an additional 15,000 shares in the last quarter. 15.52% of the stock is owned by institutional investors.

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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