Noble Financial Maintains Their Buy Rating on Electrocore (ECOR)

By Austin Angelo

Noble Financial analyst Ahu Demir maintained a Buy rating on Electrocore (ECORResearch Report) today and set a price target of $4.00. The company’s shares closed last Monday at $0.45, close to its 52-week low of $0.32.

According to TipRanks.com, Demir has currently no stars on a ranking scale of 0-5 stars, with an average return of -36.9% and a 13.9% success rate. Demir covers the Healthcare sector, focusing on stocks such as Onconova Therapeutics, Dyadic International, and TherapeuticsMD.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Electrocore with a $2.75 average price target, implying a 497.8% upside from current levels. In a report issued on March 10, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $2.00 price target.

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Based on Electrocore’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $683K and GAAP net loss of $10.69 million. In comparison, last year the company earned revenue of $367.6K and had a GAAP net loss of $15.34 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.