EnteroMedics Inc. (ETRM) Sets New 52-Week Low at $1.72
EnteroMedics Inc. (NASDAQ:ETRM)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $1.72 and last traded at $1.72, with a volume of 430,648 shares. The stock had previously closed at $1.85.
A number of equities analysts have commented on the company. ValuEngine upgraded EnteroMedics from a “strong sell” rating to a “sell” rating in a research note on Friday. Zacks Investment Research upgraded EnteroMedics from a “hold” rating to a “strong-buy” rating and set a $2.25 price objective on the stock in a research note on Wednesday, August 23rd. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating and set a $11.00 price objective on shares of EnteroMedics in a research note on Thursday, May 25th.
The company has a 50-day moving average price of $3.16 and a 200-day moving average price of $4.79. The company’s market cap is $14.27 million.
EnteroMedics (NASDAQ:ETRM) last posted its earnings results on Tuesday, August 8th. The medical device company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.09. The firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.20 million. EnteroMedics had a negative return on equity of 167.73% and a negative net margin of 4,399.48%. Equities research analysts forecast that EnteroMedics Inc. will post ($1.77) earnings per share for the current year.
An institutional investor recently raised its position in EnteroMedics stock. Vanguard Group Inc. grew its stake in shares of EnteroMedics Inc. (NASDAQ:ETRM) by 24.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,740 shares of the medical device company’s stock after acquiring an additional 9,727 shares during the period. Vanguard Group Inc. owned 0.72% of EnteroMedics worth $248,000 at the end of the most recent reporting period. Institutional investors own 1.28% 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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