In a report released today, Charles Duncan from Cantor Fitzgerald maintained a Buy rating on Electrocore Llc (NASDAQ: ECOR), with a price target of $30. The company’s shares opened today at $11.99, close to its 52-week low of $10.57.
Duncan said:
“We rate ECOR Overweight. The company’s potentially broadly-applicable platform is enabled by a hand-held device, gammaCore, that provides non-invasive vagus nerve stimulation through the skin and has proven efficacy in headache, with two approvals thus far. We believe the convenience/ease-of-use, low-risk and cost-effectiveness relative to pharmacological agents and implanted devices should drive penetration in various customer segments, including those unresponsive to current HA standards of care. We see the biggest potential in adjunctive therapy alongside current and emerging treatments including CGRP mAbs.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 1.0% and a 43.7% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Electrocore Llc is a Moderate Buy with an average price target of $25.
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Based on Electrocore Llc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $6.16 million. In comparison, last year the company had a GAAP net loss of $6.36 million.
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electroCore, Inc. is a commercial-stage bio-electronic medicine company, with a platform non-invasive vagus nerve stimulation therapy focuses on neurology and rheumatology. The company’s therapy, gammaCore, has pharmacologic effects on the peripheral and central nervous systems, which modulate neurotransmitters and immune function.
