electroCore (NASDAQ:ECOR) Given New $18.00 Price Target at HC Wainwright

electroCore (NASDAQ:ECOR) had its price objective cut by HC Wainwright from $25.00 to $18.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on the stock. Wall Street Zen raised shares of electroCore from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.00.

electroCore Stock Performance

Shares of ECOR stock opened at $8.15 on Monday. The stock has a 50 day moving average price of $5.31 and a 200 day moving average price of $5.46. electroCore has a 52-week low of $4.16 and a 52-week high of $19.49. The firm has a market capitalization of $65.20 million, a P/E ratio of -4.77 and a beta of 0.34.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ECOR. Cubist Systematic Strategies LLC purchased a new stake in shares of electroCore during the 1st quarter worth $153,000. NewEdge Advisors LLC raised its holdings in 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 purchasing an additional 145,047 shares in the last quarter. Jane Street Group LLC lifted its position 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 buying an additional 19,599 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of electroCore by 65.7% in the 2nd quarter. International Assets Investment Management LLC now owns 77,020 shares of the company’s stock valued at $407,000 after buying an additional 30,550 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its position in shares of electroCore by 26.7% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 41,783 shares of the company’s stock worth $221,000 after buying an additional 8,800 shares during the last quarter. 26.74% of the stock is owned by institutional investors.

electroCore Company Profile

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.