EnteroMedics Inc. (NASDAQ:ETRM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “EnteroMedics Inc. was established to develop and commercialize a new therapeutic platform for treating a wide range of acute and chronic diseases that are mediated by the vagal nerves. Due to the large unmet need for more effective surgical management of obesity, and following an in-depth analysis of how the vagus nerve affects food intake and processing, EnteroMedics has selected obesity management as its primary focus. “

Separately, Ladenburg Thalmann Financial Services started coverage on EnteroMedics in a research report on Wednesday, May 3rd. They set a “buy” rating and a $11.00 price objective on the stock.

EnteroMedics (NASDAQ:ETRM) traded up 4.12% during mid-day trading on Thursday, reaching $4.55. 151,062 shares of the company traded hands. The stock’s market capitalization is $31.42 million. The company’s 50-day moving average is $4.88 and its 200-day moving average is $6.03. EnteroMedics has a 12-month low of $1.75 and a 12-month high of $30.41.

EnteroMedics (NASDAQ:ETRM) last released its earnings results on Tuesday, May 16th. The medical device company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by $0.64. EnteroMedics had a negative return on equity of 506.36% and a negative net margin of 3,088.74%. The company had revenue of $0.04 million during the quarter. Equities analysts predict that EnteroMedics will post ($3.97) earnings per share for the current fiscal year.

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An institutional investor recently bought a new position in EnteroMedics stock. Hudson Bay Capital Management LP purchased a new stake in shares of EnteroMedics Inc. (NASDAQ:ETRM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 204,836 shares of the medical device company’s stock, valued at approximately $198,000. Hudson Bay Capital Management LP owned about 2.88% of EnteroMedics as of its most recent filing with the SEC. Institutional investors own 3.54% of the company’s stock.

EnteroMedics Company Profile

EnteroMedics Inc (EnteroMedics) is a medical device company. The Company is focused on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders. The Company’s neuroblocking technology, which is referred to as VBLOC therapy, is designed to intermittently block the vagus nerve.

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