In a report released today, Ryan Zimmerman from BTIG maintained a Buy rating on Electrocore (ECOR), with a price target of $3.50. The company’s shares closed last Tuesday at $1.56.
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 15.9% and a 61.1% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Zimmer Biomet Holdings, and Staar Surgical Company.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Electrocore with a $3.38 average price target.
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Based on Electrocore’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.08 million and GAAP net loss of $4.49 million. In comparison, last year the company earned revenue of $683K and had a GAAP net loss of $10.69 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. It focuses on acute treatment of migraine and episodic cluster headache. The company was founded by Joseph P. Errico, Steve Mendez, Peter S. Staats and Thomas J. Errico in September 2005 and is headquartered in Morris Plains, NJ.
