Company Update (NASDAQ:ETRM): EnteroMedics Inc Announces Appointment of Lori C. McDougal to the Board of Directors
EnteroMedics Inc (NASDAQ:ETRM), the developer of medical devices using neuroblocking therapy to treat obesity, metabolic diseases and other gastrointestinal disorders, today announced that Lori C. McDougal has been appointed to the Board of Directors, effective July 31, 2015. Ms. McDougal will serve as a Class II Director until the 2018 annual meeting or until her successor is elected and qualified.
Ms. McDougal has served in an executive capacity in the healthcare industry for more than eighteen years. She served as an Executive Vice President at Optum, Inc., the health services platform of UnitedHealth Group, Inc., from 2013 until 2014. Prior to her time at Optum, she served as Chief Executive Officer of UnitedHealth Group’s subsidiary UnitedHealthcare Military & Veterans from 2008 until 2013, and previously served as the Chief Operating Officer of UnitedHealthcare Military & Veterans from 2007 until 2008. Prior to that, she served as Vice President of UnitedHealthcare Medicare & Retirement starting in 2002. Additionally, she served as Vice President of UnitedHealth International from 1998 to 2002 and Vice President of OptumInsightfrom 1996 to 1998. (Original Source)
Shares of Enteromedics closed last Friday at $0.31. ETRM has a 1-year high of $2.05 and a 1-year low of $0.30. The stock’s 50-day moving average is $0.61 and its 200-day moving average is $0.99.
On the ratings front, Canaccord Genuity analyst William Plovanic maintained a Buy rating on ETRM, with a price target of $2.50, in a report issued on July 21. The current price target represents a potential upside of 706.5% from where the stock is currently trading. According to TipRanks.com, Plovanic has a total average return of 14.4%, a 63.6% success rate, and is ranked #101 out of 3724 analysts.
EnteroMedics Inc is a medical device company. The Company is focused on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders.