Company Update (NASDAQ:ETRM): EnteroMedics Inc Announces the Launch of vBloc(R) Access
EnteroMedics Inc (NASDAQ:ETRM), the developer of medical devices using neuroblocking therapy to treat obesity, metabolic diseases and other gastrointestinal disorders, today announced the launch of vBloc® Access, a program designed to support patient access to vBloc Neurometabolic Therapy.
vBloc Access is a comprehensive patient support program that provides individuals considering vBloc Neurometabolic Therapy with help in understanding their insurance benefits and the insurance claim process. vBloc Access is available to physicians and healthcare providers as a resource for navigating the reimbursement process, including billing and coding assistance.
“EnteroMedics is pleased to offer patients and physicians with a resource to help them navigate the reimbursement process and provide expanded access to vBloc Neurometabolic Therapy,” said Brad Hancock, EnteroMedics Chief Commercial Officer. “vBloc Neurometabolic Therapy is a unique product that enables healthy weight loss through a better patient experience. With the vBloc Access program, we look forward to supporting physicians and patients in meeting the rapidly growing interest in and demand for vBloc Neurometabolic Therapy.” (Original Source)
Shares of Enteromedics closed last Friday at $0.32. 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 $0.74 and its 200-day moving average is $1.02.
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 681.3% from where the stock is currently trading. According to TipRanks.com, Plovanic has a total average return of 14.5%, a 63.3% success rate, and is ranked #100 out of 3712 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.