H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Electrocore (ECOR) today and set a price target of $3.00. The company’s shares closed last Friday at $1.64.
According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 6.9% and a 38.5% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals, Trillium Therapeutics, and Cellectar Biosciences.
Currently, the analyst consensus on Electrocore is a Strong Buy with an average price target of $3.17, which is a 92.1% upside from current levels. In a report issued on November 12, BTIG also maintained a Buy rating on the stock with a $3.50 price target.
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Based on Electrocore’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $753K and GAAP net loss of $4.74 million. In comparison, last year the company earned revenue of $622.7K and had a GAAP net loss of $12.1 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.
