electroCore target adjusted on 1-for-15 reverse-split at H.C. Wainwright

H.C. Wainwright analyst Swayampakula Ramakanth raised the firm’s price target on electroCore to $7 from $2.75 and keeps a Buy rating on the shares following the 1-for-15 reverse-split. The analyst is "encouraged" by the company’s "bullish" 2023 and believes management’s confidence stems from the fact that the Veterans Affairs business is at an inflection point. The firm believes electroCore’s cash pay business and distribution partnerships "could provide upside."