electroCore, Inc. (NASDAQ:ECOR) Given Average Recommendation of “Hold” by Brokerages

Shares of electroCore, Inc. (NASDAQ:ECOR) have been given a consensus rating of “Hold” by the five brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $22.00.

A number of research firms have recently weighed in on ECOR. Brookline Capital Acquisition raised shares of electroCore to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of electroCore in a research note on Monday, December 29th. HC Wainwright reduced their price objective on electroCore from $25.00 to $18.00 and set a “buy” rating for the company in a report on Monday, January 26th. Finally, Zacks Research downgraded electroCore from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 28th.

Institutional Investors Weigh In On electroCore

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DRW Securities LLC bought a new position in electroCore during the fourth quarter worth about $264,000. Tejara Capital Ltd purchased a new stake in shares of electroCore during the 4th quarter valued at approximately $450,000. International Assets Investment Management LLC boosted its holdings in electroCore by 15.2% in the 4th quarter. International Assets Investment Management LLC now owns 88,720 shares of the company’s stock worth $398,000 after buying an additional 11,700 shares during the period. FNY Investment Advisers LLC purchased a new position in electroCore in the 4th quarter valued at approximately $82,000. Finally, Jaffetilchin Investment Partners LLC grew its stake in electroCore by 7.4% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 52,363 shares of the company’s stock valued at $235,000 after buying an additional 3,600 shares in the last quarter. 26.74% of the stock is currently owned by institutional investors.

electroCore Trading Down 8.9%

NASDAQ:ECOR opened at $6.85 on Monday. The stock has a market capitalization of $54.80 million, a price-to-earnings ratio of -4.01 and a beta of 0.48. The firm has a fifty day simple moving average of $6.29 and a two-hundred day simple moving average of $5.48. electroCore has a 12 month low of $4.16 and a 12 month high of $14.61.

About electroCore

electroCore, Inc is a commercial-stage bioelectronic medicine company headquartered in Rockaway, New Jersey. The company specializes in the development and commercialization of non-invasive vagus nerve stimulation (nVNS) therapies designed to address a variety of neurological and inflammatory conditions. Established in 2006, electroCore has focused its efforts on translating neuromodulation science into a compact, patient-administered treatment device.

The company’s lead product, gammaCore®, is a handheld, battery-powered device that delivers nVNS through the skin to the cervical branch of the vagus nerve.