EnteroMedics Inc. (NASDAQ:ETRM) Cut to “Hold” at Zacks Investment Research
EnteroMedics Inc. (NASDAQ:ETRM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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 reiterated a “buy” rating and set a $11.00 target price on shares of EnteroMedics in a research report on Thursday, May 25th.
EnteroMedics (NASDAQ ETRM) opened at 4.48 on Thursday. The firm’s market cap is $30.94 million. EnteroMedics has a 52 week low of $1.75 and a 52 week high of $30.41. The company has a 50-day moving average of $4.86 and a 200-day moving average of $6.02.
EnteroMedics (NASDAQ:ETRM) last posted its earnings results on Tuesday, May 16th. The medical device company reported ($1.27) earnings per share 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 return on equity of 506.36% and a negative net margin of 3,088.74%. Equities research analysts forecast that EnteroMedics will post ($3.97) earnings per share for the current fiscal year.
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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