Analysts Issue Forecasts for electroCore FY2030 Earnings

electroCore, Inc. (NASDAQ:ECOR) – Research analysts at HC Wainwright issued their FY2030 EPS estimates for shares of electroCore in a report released on Monday, January 26th. HC Wainwright analyst S. Ramakanth forecasts that the company will post earnings per share of $0.90 for the year. HC Wainwright currently has a “Buy” rating and a $18.00 target price on the stock. The consensus estimate for electroCore’s current full-year earnings is ($1.49) per share.

electroCore (NASDAQ:ECOR) last announced its quarterly earnings data 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 business had revenue of $8.69 million during the quarter, compared to analyst estimates of $7.84 million.

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

electroCore Stock Up 9.1%

NASDAQ:ECOR opened at $8.15 on Tuesday. electroCore has a 12-month low of $4.16 and a 12-month high of $19.49. The stock’s fifty day simple moving average is $5.31 and its 200-day simple moving average is $5.46. The firm has a market capitalization of $65.20 million, a P/E ratio of -4.77 and a beta of 0.34.

Hedge Funds Weigh In On electroCore

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new position in shares of electroCore during the fourth quarter worth about $82,000. Cubist Systematic Strategies LLC acquired a new position in electroCore during the first quarter worth $153,000. Two Sigma Investments LP grew its position in electroCore by 20.8% in the third quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock valued at $122,000 after purchasing an additional 4,231 shares in the last quarter. Jane Street Group LLC increased its stake in 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 buying an additional 19,599 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC boosted its stake in shares of electroCore by 26.7% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 41,783 shares of the company’s stock worth $221,000 after buying an additional 8,800 shares during the last quarter. 26.74% of the stock is owned by institutional investors and hedge funds.

electroCore Company Profile

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.