HC Wainwright Has Lowered Expectations for electroCore (NASDAQ:ECOR) Stock Price

electroCore (NASDAQ:ECOR) had its target price dropped by research analysts at HC Wainwright from $25.00 to $18.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 140.96% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Wall Street Zen upgraded electroCore from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, electroCore has a consensus rating of “Hold” and a consensus target price of $22.00.

electroCore Trading Up 6.1%

Shares of electroCore stock opened at $7.47 on Monday. The company has a market cap of $59.76 million, a PE ratio of -4.37 and a beta of 0.34. The company has a 50 day moving average of $5.26 and a 200-day moving average of $5.46. electroCore has a 1-year low of $4.16 and a 1-year high of $19.49.

electroCore (NASDAQ:ECOR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.07). The business had revenue of $8.69 million during 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%. Research analysts forecast that electroCore will post -1.49 earnings per share for the current year.

Hedge Funds Weigh In On electroCore

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new position in shares of electroCore in the 4th quarter worth $82,000. Two Sigma Investments LP lifted its stake in shares of electroCore by 20.8% in the 3rd quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock valued at $122,000 after acquiring an additional 4,231 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of electroCore during the first quarter valued at approximately $153,000. Jaffetilchin Investment Partners LLC grew its holdings in 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 acquiring an additional 8,800 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of electroCore by 114.4% in the first quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock worth $246,000 after purchasing an additional 19,599 shares during the last quarter. 26.74% of the stock is currently owned by hedge funds and other institutional investors.

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.