electroCore, Inc. (NASDAQ:ECOR) Receives Average Recommendation of “Hold” from Brokerages

electroCore, Inc. (NASDAQ:ECOR) has received an average rating of “Hold” from the five research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $22.00.

ECOR has been the subject of a number of research reports. Wall Street Zen raised shares of electroCore from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research lowered shares of electroCore from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 28th. HC Wainwright reduced their price objective on electroCore from $25.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of electroCore in a report on Monday, December 29th. Finally, Brookline Capital Acquisition upgraded electroCore to a “strong-buy” rating in a report on Tuesday, February 3rd.

electroCore Price Performance

NASDAQ:ECOR opened at $7.58 on Monday. The company has a market capitalization of $60.64 million, a price-to-earnings ratio of -4.43 and a beta of 0.48. The business has a 50 day moving average of $6.02 and a 200 day moving average of $5.40. electroCore has a 1-year low of $4.16 and a 1-year high of $16.18.

Institutional Trading of electroCore

A number of institutional investors have recently made changes to their positions in ECOR. NewEdge Advisors LLC increased its stake in shares of electroCore by 857.9% in the first 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. Tejara Capital Ltd purchased a new stake in electroCore during the 4th quarter valued at $450,000. DRW Securities LLC bought a new stake in electroCore in the 4th quarter worth $264,000. Cubist Systematic Strategies LLC purchased a new position in shares of electroCore in the first quarter valued at about $153,000. Finally, Jane Street Group LLC raised its stake in shares of electroCore by 114.4% during the first quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock valued at $246,000 after acquiring an additional 19,599 shares during the last quarter. Hedge funds and other 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.