EnteroMedics Inc. (NASDAQ:ETRM) Releases Earnings Results, Beats Expectations By $0.09 EPS
EnteroMedics Inc. (NASDAQ:ETRM) released its quarterly earnings results on Tuesday. The medical device company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.09, Bloomberg Earnings reports. The business had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.20 million. EnteroMedics had a negative return on equity of 506.36% and a negative net margin of 3,088.74%.
EnteroMedics (ETRM) traded down 4.51% during midday trading on Wednesday, hitting $3.39. The company had a trading volume of 361,926 shares. The company’s 50 day moving average is $4.60 and its 200 day moving average is $5.52. EnteroMedics has a 12-month low of $0.04 and a 12-month high of $30.41. The stock’s market cap is $23.41 million.
A number of equities research analysts recently weighed in on ETRM shares. Zacks Investment Research cut EnteroMedics from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Ladenburg Thalmann Financial Services started coverage on EnteroMedics in a report on Wednesday, May 3rd. They issued a “buy” rating and a $11.00 price target on the stock.
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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