HC Wainwright Has Lowered Expectations for electroCore (NASDAQ:ECOR) Stock Price

electroCore (NASDAQ:ECOR) had its target price decreased by investment analysts at HC Wainwright from $25.00 to $18.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 140.96% from the company’s previous close.

Several other equities research analysts have also recently commented on ECOR. Weiss Ratings reissued a “sell (d-)” rating on shares of electroCore in a research note on Monday, December 29th. Wall Street Zen raised electroCore from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, electroCore presently has an average rating of “Hold” and an average target price of $22.00.

electroCore Stock Performance

electroCore stock opened at $7.47 on Monday. electroCore has a 52 week low of $4.16 and a 52 week high of $19.49. The firm has a market capitalization of $59.76 million, a PE ratio of -4.37 and a beta of 0.34. The business’s 50-day simple moving average is $5.26 and its 200-day simple moving average is $5.46.

electroCore (NASDAQ:ECOR) last released its earnings results on Wednesday, November 5th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.07). electroCore had a negative net margin of 47.46% and a negative return on equity of 447.87%. The company had revenue of $8.69 million during the quarter, compared to the consensus estimate of $7.84 million. Research analysts forecast that electroCore will post -1.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ECOR. NewEdge Advisors LLC raised its stake in shares of electroCore by 857.9% during the 1st quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock worth $1,083,000 after purchasing an additional 145,047 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of electroCore by 65.7% during the 2nd quarter. International Assets Investment Management LLC now owns 77,020 shares of the company’s stock worth $407,000 after purchasing an additional 30,550 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of electroCore in the 1st quarter valued at about $153,000. Jane Street Group LLC raised its holdings in shares of electroCore by 114.4% in the 1st quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock valued at $246,000 after purchasing an additional 19,599 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in electroCore during the fourth quarter worth approximately $82,000. 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.