Insider Buying: electroCore (NASDAQ:ECOR) Director Acquires 5,000 Shares of Stock

electroCore, Inc. (NASDAQ:ECOR) Director Thomas Errico acquired 5,000 shares of the company’s stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of $9.82 per share, with a total value of $49,100.00. Following the completion of the acquisition, the director directly owned 363,904 shares in the company, valued at approximately $3,573,537.28. The trade was a 1.39% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

electroCore Trading Up 2.7%

Shares of NASDAQ ECOR opened at $11.99 on Tuesday. electroCore, Inc. has a 1 year low of $4.41 and a 1 year high of $12.12. The firm’s 50-day moving average is $8.51 and its 200-day moving average is $7.71. The firm has a market capitalization of $108.15 million, a PE ratio of -7.22 and a beta of 1.00.

electroCore (NASDAQ:ECOR) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. electroCore had a negative net margin of 39.96% and a negative return on equity of 1,956.38%. The business had revenue of $9.45 million during the quarter, compared to the consensus estimate of $9.49 million. As a group, equities research analysts anticipate that electroCore, Inc. will post -1.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of electroCore in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.00.

Hedge Funds Weigh In On electroCore

A hedge fund recently bought a new stake in electroCore stock. WealthShield Partners LLC bought a new position in shares of electroCore, Inc. (NASDAQ:ECOR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,978 shares of the company’s stock, valued at approximately $157,000. WealthShield Partners LLC owned about 0.32% of electroCore at the end of the most recent quarter. 26.74% of the stock is owned by institutional investors and hedge funds.

electroCore Company Profile

electroCore, Inc is a commercial-stage medical device company focused on bioelectronic medicine, an approach that uses electrical signals to influence nerve activity and help manage health conditions. The company develops non-invasive vagus nerve stimulation (nVNS) technologies designed to be used without surgery or implanted devices.

Its primary prescription product is gammaCore, a handheld device that delivers non-invasive vagus nerve stimulation and has been cleared in the United States for the treatment and prevention of certain migraine and cluster headache symptoms.