HC Wainwright Comments on electroCore FY2030 Earnings

electroCore, Inc. (NASDAQ:ECOR) – Investment analysts at HC Wainwright issued their FY2030 earnings estimates for electroCore in a note issued to investors on Monday, January 26th. HC Wainwright analyst S. Ramakanth forecasts that the company will post earnings of $0.90 per share for the year. HC Wainwright has a “Buy” rating and a $18.00 price objective on the stock. The consensus estimate for electroCore’s current full-year earnings is ($1.49) per share.

electroCore (NASDAQ:ECOR) last posted its quarterly earnings data 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 firm had revenue of $8.69 million for the quarter, compared to analyst estimates of $7.84 million. electroCore had a negative return on equity of 447.87% and a negative net margin of 47.46%.

A number of other brokerages have also commented on ECOR. Weiss Ratings reissued a “sell (d-)” rating on shares of electroCore in a report on Monday, December 29th. Wall Street Zen raised shares of electroCore from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, electroCore has an average rating of “Hold” and an average price target of $22.00.

electroCore Stock Performance

Shares of ECOR stock opened at $7.88 on Tuesday. electroCore has a 52 week low of $4.16 and a 52 week high of $19.49. The stock has a market capitalization of $63.04 million, a PE ratio of -4.61 and a beta of 0.34. The stock’s fifty day moving average is $5.37 and its 200-day moving average is $5.47.

Hedge Funds Weigh In On electroCore

Several hedge funds have recently bought and sold shares of ECOR. Jaffetilchin Investment Partners LLC boosted its holdings in electroCore by 7.4% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 52,363 shares of the company’s stock valued at $235,000 after purchasing an additional 3,600 shares during the period. Two Sigma Investments LP grew its position in electroCore by 20.8% during the third quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock worth $122,000 after buying an additional 4,231 shares in the last quarter. FNY Investment Advisers LLC bought a new position in electroCore in the 4th quarter worth about $82,000. Jane Street Group LLC raised its holdings in shares of electroCore by 114.4% in the 1st 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 in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of electroCore during the first quarter worth about $153,000. 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.