Zacks Investment Research Upgrades EnteroMedics (RSLS) to “Buy”

Zacks Investment Research upgraded shares of EnteroMedics (NASDAQ:RSLS) from a hold rating to a buy rating in a research report released on Thursday morning. They currently have $1.50 target price on the medical device company’s stock.

According to Zacks, “ReShape Lifesciences Inc. is a developer of invasive medical devices to treat obesity and metabolic diseases. The company’s portfolio includes vBloc System(R), ReShape(R) and Gastric Vest System (TM). ReShape Lifesciences Inc., formerly known as EnteroMedics Inc., is based in CA, United States. “

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Separately, ValuEngine upgraded EnteroMedics from a strong sell rating to a sell rating in a report on Friday, February 2nd.

NASDAQ RSLS opened at $1.45 on Thursday. The stock has a market cap of $43.44, a price-to-earnings ratio of -0.04 and a beta of 2.68. EnteroMedics has a 1 year low of $1.23 and a 1 year high of $6.48.

An institutional investor recently bought a new position in EnteroMedics stock. Anson Funds Management LP acquired a new position in shares of EnteroMedics (NASDAQ:RSLS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 219,016 shares of the medical device company’s stock, valued at approximately $324,000. Anson Funds Management LP owned 0.73% of EnteroMedics at the end of the most recent quarter. 20.83% of the stock is owned by institutional investors and hedge funds.

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EnteroMedics Company Profile

ReShape Lifesciences Inc, a medical device company, focuses on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases, and other gastrointestinal disorders. Its proprietary neuroblocking technology, vBloc Therapy is designed to intermittently block the vagus nerve using electrical impulses.

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