EnteroMedics Inc. (ETRM) Shares Up 15.5%
EnteroMedics Inc. (NASDAQ:ETRM) shares shot up 15.5% on Monday . The stock traded as high as $2.25 and last traded at $2.24. 3,009,491 shares traded hands during trading, an increase of 306% from the average session volume of 742,155 shares. The stock had previously closed at $1.94.
Several research firms have weighed in on ETRM. ValuEngine downgraded shares of EnteroMedics from a “sell” rating to a “strong sell” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of EnteroMedics from a “hold” rating to a “strong-buy” rating and set a $2.25 price objective on the stock in a report on Wednesday, August 23rd.
The stock’s market capitalization is $18.58 million. The company’s 50 day moving average is $1.88 and its 200 day moving average is $3.84.
EnteroMedics (NASDAQ:ETRM) last posted its quarterly earnings results on Tuesday, August 8th. The medical device company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.09. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.20 million. EnteroMedics had a negative return on equity of 167.73% and a negative net margin of 4,399.48%. Analysts expect that EnteroMedics Inc. will post ($1.40) EPS for the current year.
An institutional investor recently raised its position in EnteroMedics stock. Vanguard Group Inc. lifted its stake in EnteroMedics Inc. (NASDAQ:ETRM) by 24.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 0.89% of the company’s stock.
EnteroMedics Company Profile
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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