HC Wainwright Lowers electroCore (NASDAQ:ECOR) Price Target to $18.00

electroCore (NASDAQ:ECOR) had its price target reduced by research analysts at HC Wainwright from $25.00 to $18.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 128.43% from the stock’s previous close. HC Wainwright also issued estimates for electroCore’s FY2030 earnings at $0.90 EPS.

Other analysts also recently issued research reports about the company. Wall Street Zen upgraded 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 research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, electroCore presently has a consensus rating of “Hold” and a consensus target price of $22.00.

electroCore Stock Down 3.3%

ECOR stock opened at $7.88 on Monday. The firm has a 50 day moving average of $5.37 and a two-hundred day moving average of $5.47. electroCore has a 12 month low of $4.16 and a 12 month high of $19.49. The company has a market capitalization of $63.04 million, a price-to-earnings ratio of -4.61 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). The business had revenue of $8.69 million during the quarter, compared to analyst estimates of $7.84 million. electroCore had a negative net margin of 47.46% and a negative return on equity of 447.87%. On average, research analysts expect that electroCore will post -1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On electroCore

A number of institutional investors and hedge funds have recently made changes to their positions in ECOR. FNY Investment Advisers LLC bought a new position in electroCore during the fourth quarter worth about $82,000. Cubist Systematic Strategies LLC bought a new stake in electroCore during the 1st quarter worth approximately $153,000. Two Sigma Investments LP raised its holdings in electroCore by 20.8% during the 3rd quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock worth $122,000 after buying an additional 4,231 shares during the period. Jane Street Group LLC raised its holdings in electroCore by 114.4% during the 1st quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock worth $246,000 after buying an additional 19,599 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its stake in electroCore by 26.7% in the second quarter. Jaffetilchin Investment Partners LLC now owns 41,783 shares of the company’s stock valued at $221,000 after buying an additional 8,800 shares in the last quarter. Institutional investors own 26.74% of the company’s stock.

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.