electroCore (NASDAQ:ECOR) Lowered to “Strong Sell” Rating by Zacks Research

electroCore (NASDAQ:ECOR) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday,Zacks.com reports.

ECOR has been the subject of several other research reports. HC Wainwright lowered their target price on shares of electroCore from $25.00 to $18.00 and set a “buy” rating for the company in a report on Monday. Wall Street Zen raised shares of electroCore from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of electroCore in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.00.

electroCore Price Performance

NASDAQ:ECOR opened at $7.10 on Wednesday. The firm has a market capitalization of $56.80 million, a price-to-earnings ratio of -4.15 and a beta of 0.34. The business has a 50 day simple moving average of $5.47 and a 200-day simple moving average of $5.49. electroCore has a 1 year low of $4.16 and a 1 year high of $19.49.

electroCore (NASDAQ:ECOR) last released its earnings results on Wednesday, November 5th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.07). The company had revenue of $8.69 million for the quarter, compared to the consensus estimate of $7.84 million. electroCore had a negative net margin of 47.46% and a negative return on equity of 447.87%. As a group, analysts expect that electroCore will post -1.49 earnings per share for the current fiscal year.

Institutional Trading of electroCore

Institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of electroCore in the first quarter valued at approximately $153,000. NewEdge Advisors LLC lifted its holdings in shares of electroCore by 857.9% in the 1st quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock worth $1,083,000 after buying an additional 145,047 shares during the period. Jane Street Group LLC grew its position in shares of electroCore by 114.4% during the 1st quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock worth $246,000 after buying an additional 19,599 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of electroCore by 65.7% during the 2nd quarter. International Assets Investment Management LLC now owns 77,020 shares of the company’s stock worth $407,000 after buying an additional 30,550 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its stake in shares of electroCore by 26.7% during the second quarter. Jaffetilchin Investment Partners LLC now owns 41,783 shares of the company’s stock valued at $221,000 after buying an additional 8,800 shares during the period. Institutional investors own 26.74% of the company’s stock.

About electroCore

electroCore, Inc is a commercial-stage bioelectronic medicine company headquartered in Rockaway, New Jersey. The company specializes in the development and commercialization of non-invasive vagus nerve stimulation (nVNS) therapies designed to address a variety of neurological and inflammatory conditions. Established in 2006, electroCore has focused its efforts on translating neuromodulation science into a compact, patient-administered treatment device.

The company’s lead product, gammaCore®, is a handheld, battery-powered device that delivers nVNS through the skin to the cervical branch of the vagus nerve.