EnteroMedics Inc. (ETRM) Upgraded to “Buy” at Zacks Investment Research
EnteroMedics Inc. (NASDAQ:ETRM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $5.00 price objective on the medical device company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.61% from the stock’s previous close.
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, Ladenburg Thalmann Financial Services started coverage on shares of EnteroMedics in a research note on Wednesday, May 3rd. They set a “buy” rating and a $11.00 target price for the company.
Shares of EnteroMedics (NASDAQ:ETRM) traded down 1.54% during trading on Friday, hitting $4.48. 46,399 shares of the stock were exchanged. The stock’s market cap is $30.94 million. The stock’s 50 day moving average is $4.86 and its 200-day moving average is $6.02. EnteroMedics has a 12-month low of $1.75 and a 12-month high of $30.41.
EnteroMedics (NASDAQ:ETRM) last issued its quarterly earnings data on Tuesday, May 16th. The medical device company reported ($1.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.63) by $0.64. EnteroMedics had a negative return on equity of 506.36% and a negative net margin of 3,088.74%. The firm had revenue of $0.04 million during the quarter. Equities research analysts anticipate that EnteroMedics will post ($3.97) EPS for the current year.
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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.
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