Thomas Errico Buys 5,000 Shares of electroCore (NASDAQ:ECOR) Stock

Key Points

• Director Thomas Errico purchased 5,000 electroCore shares at an average price of $9.82, investing $49,100 and increasing his direct ownership to 363,904 shares.
• electroCore reported a quarterly loss of $0.33 per share, better than analysts’ expected loss of $0.42, while revenue of $9.45 million was slightly below estimates.
• The stock had an average analyst rating of “Hold” with an $18 target price, although ratings were split among Buy, Hold, and Sell; institutional investors owned 26.74% of the company.

electroCore, Inc. (NASDAQ:ECOR - Get Free Report) Director Thomas Errico purchased 5,000 shares of the stock in a transaction on Monday, September 14th. The stock was acquired at an average cost of $9.82 per share, for a total transaction of $49,100.00. Following the acquisition, the director directly owned 363,904 shares in the company, valued at approximately $3,573,537.28. This trade represents a 1.39% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

electroCore Stock Performance

NASDAQ:ECOR opened at $11.99 on Tuesday. The company has a 50-day moving average of $8.51 and a 200-day moving average of $7.71. The company has a market capitalization of $108.15 million, a price-to-earnings ratio of -7.22 and a beta of 1.00. electroCore, Inc. has a 52 week low of $4.41 and a 52 week high of $12.12.

electroCore (NASDAQ:ECOR - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.42) by $0.09. electroCore had a negative net margin of 39.96% and a negative return on equity of 1,956.38%. The business had revenue of $9.45 million for the quarter, compared to analysts' expectations of $9.49 million. Sell-side analysts forecast that electroCore, Inc. will post -1.4 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of electroCore in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, electroCore has an average rating of "Hold" and an average target price of $18.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in electroCore stock. WealthShield Partners LLC bought a new position in shares of electroCore, Inc. (NASDAQ:ECOR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,978 shares of the company's stock, valued at approximately $157,000. WealthShield Partners LLC owned about 0.32% of electroCore as of its most recent SEC filing. 26.74% of the stock is owned by hedge funds and other institutional investors.

electroCore Company Profile

electroCore, Inc is a commercial-stage medical device company focused on bioelectronic medicine, an approach that uses electrical signals to influence nerve activity and help manage health conditions. The company develops non-invasive vagus nerve stimulation (nVNS) technologies designed to be used without surgery or implanted devices.

Its primary prescription product is gammaCore, a handheld device that delivers non-invasive vagus nerve stimulation and has been cleared in the United States for the treatment and prevention of certain migraine and cluster headache symptoms.

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