Zacks Investment Research Upgrades EnteroMedics Inc. (NASDAQ:ETRM) to “Buy”
EnteroMedics Inc. (NASDAQ:ETRM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $5.00 target price on the medical device company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.61% from the company’s current price.
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 reaffirmed a “buy” rating and issued a $11.00 target price on shares of EnteroMedics in a report on Thursday, May 25th.
EnteroMedics (NASDAQ ETRM) traded down 1.54% during mid-day trading on Friday, hitting $4.48. The stock had a trading volume of 46,399 shares. The stock’s market cap is $30.94 million. The firm’s 50-day moving average price is $4.86 and its 200-day moving average price is $6.02. EnteroMedics has a 1-year low of $1.75 and a 1-year high of $30.41.
EnteroMedics (NASDAQ:ETRM) last released its earnings results on Tuesday, May 16th. The medical device company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by $0.64. The business had revenue of $0.04 million during the quarter. EnteroMedics had a negative net margin of 3,088.74% and a negative return on equity of 506.36%. On average, equities analysts expect that EnteroMedics will post ($3.97) earnings per share for the current year.
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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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