electroCore (ECOR) Reaches New 12-Month Low at $3.85

Shares of electroCore, Inc. (NASDAQ:ECOR) reached a new 52-week low on Wednesday . The company traded as low as $3.85 and last traded at $3.96, with a volume of 7942 shares traded. The stock had previously closed at $5.33.

A number of analysts have recently weighed in on ECOR shares. Zacks Investment Research raised shares of electroCore from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Noble Financial started coverage on shares of electroCore in a research report on Wednesday, May 8th. They set an “outperform” rating and a $19.00 price target for the company. BTIG Research downgraded shares of electroCore from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $19.00 price target (down previously from $23.00) on shares of electroCore in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. electroCore has a consensus rating of “Buy” and a consensus target price of $20.25.

The stock has a market capitalization of $168.41 million and a price-to-earnings ratio of -3.15.

electroCore (NASDAQ:ECOR) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. On average, sell-side analysts anticipate that electroCore, Inc. will post -2.18 EPS for the current year.

In other electroCore news, insider Joseph P. Errico sold 39,592 shares of electroCore stock in a transaction on Friday, April 12th. The shares were sold at an average price of $5.52, for a total value of $218,547.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph P. Errico sold 10,408 shares of electroCore stock in a transaction on Monday, April 1st. The stock was sold at an average price of $6.97, for a total transaction of $72,543.76. The disclosure for this sale can be found here.

Institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund acquired a new position in electroCore in the fourth quarter worth $41,000. American International Group Inc. boosted its holdings in electroCore by 95.3% in the first quarter. American International Group Inc. now owns 7,759 shares of the company’s stock worth $54,000 after purchasing an additional 3,787 shares during the period. Wsfs Capital Management LLC acquired a new position in electroCore in the fourth quarter worth $63,000. Rhumbline Advisers acquired a new position in electroCore in the first quarter worth $73,000. Finally, Valeo Financial Advisors LLC acquired a new position in electroCore in the first quarter worth $90,000. 14.09% of the stock is owned by hedge funds and other institutional investors.

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About electroCore (NASDAQ:ECOR)

electroCore, Inc, a bioelectronic medicine company, engages in developing a range of patient-administered non-invasive vagus nerve (VNS) stimulation therapies for the treatment of various conditions in neurology, rheumatology, and other fields. The company is developing gammaCore, a prescription-only non-invasive VNS therapy for the acute treatment of pain associated with migraine and episodic cluster headache in adults.

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