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Electrocore (ECOR) Gets a Buy Rating from H.C. Wainwright

H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Electrocore (ECORResearch Report) today and set a price target of $2.75. The company’s shares closed last Tuesday at $0.59, close to its 52-week low of $0.48.

According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 10.5% and a 43.4% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals, Janux Therapeutics Inc, and Corcept Therapeutics.

Currently, the analyst consensus on Electrocore is a Moderate Buy with an average price target of $1.50.

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Based on Electrocore’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.49 million and GAAP net loss of $4.95 million. In comparison, last year the company earned revenue of $928.3K and had a GAAP net loss of $6.32 million.

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electroCore, Inc. is a commercial-stage bio-electronic medicine company, with a platform non-invasive vagus nerve stimulation therapy focuses on neurology and rheumatology. The company’s therapy, gammaCore, has pharmacologic effects on the peripheral and central nervous systems, which modulate neurotransmitters and immune function. It focuses on acute treatment of migraine and episodic cluster headache. The company was founded by Joseph P. Errico, Steve Mendez, Peter S. Staats and Thomas J. Errico in September 2005 and is headquartered in Morris Plains, NJ.

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