ValuEngine downgraded shares of EnteroMedics Inc. (NASDAQ:ETRM) from a sell rating to a strong sell rating in a report published on Monday.

Separately, Zacks Investment Research upgraded shares of EnteroMedics from a hold rating to a strong-buy rating and set a $2.25 target price for the company in a research note on Wednesday, August 23rd.

Shares of EnteroMedics (NASDAQ ETRM) traded up 11.73% during midday trading on Monday, hitting $2.00. 4,743,457 shares of the company’s stock were exchanged. The stock’s market cap is $16.59 million. EnteroMedics has a 1-year low of $0.04 and a 1-year high of $30.41. The stock’s 50 day moving average is $1.86 and its 200-day moving average is $4.09.

EnteroMedics (NASDAQ:ETRM) last released its quarterly earnings results on Tuesday, August 8th. The medical device company reported ($0.91) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.00) by $0.09. EnteroMedics had a negative return on equity of 167.73% and a negative net margin of 4,399.48%. The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.20 million. Analysts predict that EnteroMedics will post ($1.77) earnings per share for the current fiscal year.

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A hedge fund recently raised its stake in EnteroMedics stock. Vanguard Group Inc. raised its holdings in shares of EnteroMedics Inc. (NASDAQ:ETRM) by 24.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,740 shares of the medical device company’s stock after purchasing an additional 9,727 shares during the quarter. Vanguard Group Inc. owned 0.72% of EnteroMedics worth $248,000 at the end of the most recent quarter. 1.28% of the stock is currently owned by hedge funds and other institutional investors.

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.

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