Zacks Investment Research lowered shares of EnteroMedics Inc. (NASDAQ:ETRM) from a buy rating to a hold rating in a report published on Wednesday morning.

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, Roth Capital downgraded EnteroMedics from a buy rating to a neutral rating and set a $3.00 price objective for the company. in a research note on Thursday, June 9th.

Shares of EnteroMedics (NASDAQ:ETRM) traded down 4.8669% during midday trading on Wednesday, hitting $0.1251. The company had a trading volume of 2,766,108 shares. The stock’s 50-day moving average price is $0.15 and its 200-day moving average price is $0.45. EnteroMedics has a 12 month low of $0.11 and a 12 month high of $4.95. The company’s market cap is $3.41 million.

EnteroMedics (NASDAQ:ETRM) last issued its quarterly earnings data on Thursday, August 4th. The medical device company reported ($0.49) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.75) by $0.26. EnteroMedics had a negative return on equity of 1,361.34% and a negative net margin of 4,157.93%. On average, equities research analysts forecast that EnteroMedics will post ($2.37) EPS for the current year.

An institutional investor recently bought a new position in EnteroMedics stock. Hudson Bay Capital Management LP purchased a new stake in EnteroMedics Inc. (NASDAQ:ETRM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 204,836 shares of the medical device company’s stock, valued at approximately $198,000. Hudson Bay Capital Management LP owned 2.88% of EnteroMedics at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.82% 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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