EnteroMedics Inc. (ETRM) Shares Gap Up to $2.24
EnteroMedics Inc. (NASDAQ:ETRM)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $2.45, but opened at $2.24. EnteroMedics shares last traded at $2.20, with a volume of 7,777,076 shares.
Several equities research analysts have recently issued reports on ETRM shares. Zacks Investment Research lowered shares of EnteroMedics from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. ValuEngine lowered shares of EnteroMedics from a “sell” rating to a “strong sell” rating in a report on Monday, October 2nd.
The firm has a 50 day moving average of $1.88 and a 200-day moving average of $3.84. The company’s market cap is $17.50 million.
EnteroMedics (NASDAQ:ETRM) last announced its earnings results on Tuesday, August 8th. The medical device company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.09. EnteroMedics had a negative return on equity of 167.73% and a negative net margin of 4,399.48%. The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.20 million. On average, analysts expect that EnteroMedics Inc. will post ($1.40) earnings per share for the current year.
A hedge fund recently raised its stake in EnteroMedics stock. Vanguard Group Inc. increased its stake in shares of EnteroMedics Inc. (NASDAQ:ETRM) by 24.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 49,740 shares of the medical device company’s stock after acquiring an additional 9,727 shares during the period. Vanguard Group Inc. owned 0.72% of EnteroMedics worth $248,000 as of its most recent filing with the SEC. 0.89% of the stock is currently owned by institutional investors.
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EnteroMedics Company Profile
EnteroMedics Inc (EnteroMedics) 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. The Company’s neuroblocking technology, which is referred to as VBLOC therapy, is designed to intermittently block the vagus nerve.
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