Zacks Research Downgrades electroCore (NASDAQ:ECOR) to Strong Sell

electroCore (NASDAQ:ECOR) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages also recently commented on ECOR. HC Wainwright reduced their target price on shares of electroCore from $25.00 to $18.00 and set a “buy” rating for the company in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a report on Monday, December 29th. Finally, Wall Street Zen raised electroCore from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.00.

electroCore Trading Down 2.1%

Shares of ECOR opened at $7.10 on Wednesday. The company’s fifty day simple moving average is $5.47 and its 200 day simple moving average is $5.49. electroCore has a 1-year low of $4.16 and a 1-year high of $19.49. The company has a market cap of $56.80 million, a price-to-earnings ratio of -4.15 and a beta of 0.34.

electroCore (NASDAQ:ECOR) last released its quarterly earnings data 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). electroCore had a negative net margin of 47.46% and a negative return on equity of 447.87%. The business had revenue of $8.69 million during the quarter, compared to the consensus estimate of $7.84 million. As a group, research analysts forecast that electroCore will post -1.49 earnings per share for the current year.

Institutional Trading of electroCore

Several large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new position in electroCore in the fourth quarter valued at about $82,000. Two Sigma Investments LP raised its position 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 buying an additional 4,231 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of electroCore during the 1st quarter worth approximately $153,000. Jaffetilchin Investment Partners LLC raised its position in electroCore by 26.7% during the second quarter. Jaffetilchin Investment Partners LLC now owns 41,783 shares of the company’s stock valued at $221,000 after purchasing an additional 8,800 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in electroCore by 114.4% during 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 owned by institutional investors and hedge funds.

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.