electroCore (ECOR) Lifted to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of electroCore (NASDAQ:ECOR) from a sell rating to a hold rating in a research report report published on Monday, Zacks.com reports.

According to Zacks, “Electrocore, LLC operates as a bio-electronic medicine company. It reseraches and develops therapeutic technologies based in neurology and rheumatology. Electrocore, LLC is based in NJ, United States. “

Separately, Noble Financial started coverage on electroCore in a research report on Wednesday, May 8th. They issued an outperform rating and a $19.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $20.25.

NASDAQ:ECOR traded down $0.31 during mid-day trading on Monday, reaching $3.48. The stock had a trading volume of 79,222 shares, compared to its average volume of 113,847. The company has a market capitalization of $110.41 million and a price-to-earnings ratio of -2.92. electroCore has a one year low of $3.72 and a one year high of $20.25.

electroCore (NASDAQ:ECOR) last released its earnings results on Tuesday, May 14th. The company reported ($0.47) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.07. On average, research analysts anticipate that electroCore will post -2.05 EPS for the current fiscal year.

In other news, insider Joseph P. Errico sold 39,592 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $5.52, for a total transaction of $218,547.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph P. Errico sold 10,408 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $6.97, for a total value of $72,543.76. The disclosure for this sale can be found here.

Several institutional investors and hedge funds have recently bought and sold shares of ECOR. New York State Common Retirement Fund purchased a new position in shares of electroCore during the fourth quarter valued at approximately $41,000. American International Group Inc. grew its stake in electroCore by 95.3% in the first quarter. American International Group Inc. now owns 7,759 shares of the company’s stock worth $54,000 after purchasing an additional 3,787 shares during the period. Wsfs Capital Management LLC purchased a new stake in electroCore in the fourth quarter worth $63,000. Rhumbline Advisers purchased a new stake in electroCore in the first quarter worth $73,000. Finally, Two Sigma Investments LP purchased a new stake in electroCore in the fourth quarter worth $85,000. 14.09% of the stock is currently owned by hedge funds and other institutional investors.

About electroCore

electroCore, Inc, a bioelectronic medicine company, engages in developing a range of patient-administered non-invasive vagus nerve (VNS) stimulation therapies for the treatment of various conditions in neurology, rheumatology, and other fields. The company is developing gammaCore, a prescription-only non-invasive VNS therapy for the acute treatment of pain associated with migraine and episodic cluster headache in adults.

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