EnteroMedics Inc. (NASDAQ:ETRM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “EnteroMedics Inc. was established to develop and commercialize a new therapeutic platform for treating a wide range of acute and chronic diseases that are mediated by the vagal nerves. Due to the large unmet need for more effective surgical management of obesity, and following an in-depth analysis of how the vagus nerve affects food intake and processing, EnteroMedics has selected obesity management as its primary focus. “

Separately, Roth Capital lowered shares of EnteroMedics from a “buy” rating to a “neutral” rating and set a $3.00 price objective on the stock. in a research note on Thursday, June 9th.

Shares of EnteroMedics (NASDAQ:ETRM) opened at 0.1301 on Wednesday. EnteroMedics has a 1-year low of $0.11 and a 1-year high of $4.95. The stock has a 50 day moving average of $0.15 and a 200 day moving average of $0.45. The firm’s market cap is $3.55 million.

EnteroMedics (NASDAQ:ETRM) last posted its quarterly earnings data on Thursday, August 4th. The medical device company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.26. EnteroMedics had a negative net margin of 4,157.93% and a negative return on equity of 1,361.34%. Equities research analysts anticipate that EnteroMedics will post ($2.37) earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in EnteroMedics stock. Hudson Bay Capital Management LP purchased a new position in EnteroMedics Inc. (NASDAQ:ETRM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 204,836 shares of the medical device company’s stock, valued at approximately $198,000. Hudson Bay Capital Management LP owned about 2.88% of EnteroMedics as of its most recent filing with the SEC. Hedge funds and other institutional investors own 5.82% of the company’s stock.

About EnteroMedics

EnteroMedics Inc (EnteroMedics) is a medical device company. The Company is focused on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders. The Company’s neuroblocking technology, which is referred to as VBLOC therapy, is designed to intermittently block the vagus nerve.

5 Day Chart for NASDAQ:ETRM

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