electroCore (ECOR) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS
electroCore (NASDAQ:ECOR) announced its quarterly earnings data on Tuesday. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.07, Fidelity Earnings reports.
Shares of ECOR traded down $1.31 during midday trading on Wednesday, hitting $4.02. The stock had a trading volume of 5,492 shares, compared to its average volume of 87,755. electroCore has a fifty-two week low of $4.16 and a fifty-two week high of $20.25. The stock has a market cap of $168.41 million and a price-to-earnings ratio of -3.48.
In related news, insider Joseph P. Errico sold 10,408 shares of the firm’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 transaction of $72,543.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph P. Errico sold 39,592 shares of the firm’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 disclosure for this sale can be found here.
Several brokerages have commented on ECOR. Zacks Investment Research upgraded shares of electroCore from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. BTIG Research cut shares of electroCore from a “buy” rating to a “neutral” rating in a report on Wednesday. Noble Financial began coverage on shares of electroCore in a report on Wednesday, May 8th. They issued an “outperform” rating and a $19.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $19.00 target price (down from $23.00) on shares of electroCore in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $20.25.
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electroCore Company Profile
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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