Insider Buying: electroCore, Inc. (NASDAQ:ECOR) Director Buys $47,700.00 in Stock

electroCore, Inc. (NASDAQ:ECOR) Director Thomas J. Errico bought 10,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $4.77 per share, with a total value of $47,700.00. Following the completion of the acquisition, the director now owns 266,401 shares in the company, valued at approximately $1,270,732.77. This represents a 3.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

electroCore Stock Performance

electroCore stock opened at $4.95 on Friday. The company’s fifty day moving average price is $6.81 and its 200 day moving average price is $11.98. electroCore, Inc. has a 1 year low of $4.47 and a 1 year high of $19.49. The stock has a market capitalization of $36.73 million, a P/E ratio of -2.70 and a beta of 0.92.

electroCore (NASDAQ:ECOR) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.09. electroCore had a negative net margin of 54.40% and a negative return on equity of 154.45%. The firm had revenue of $6.72 million for the quarter, compared to analysts’ expectations of $6.93 million. Sell-side analysts predict that electroCore, Inc. will post -1.49 EPS for the current year.

Institutional Investors Weigh In On electroCore

A number of institutional investors have recently added to or reduced their stakes in ECOR. JPMorgan Chase & Co. grew its stake in electroCore by 31,250.0% in the 4th quarter. JPMorgan Chase & Co. now owns 3,762 shares of the company’s stock valued at $61,000 after acquiring an additional 3,750 shares during the period. XTX Topco Ltd acquired a new stake in electroCore during the 1st quarter worth $90,000. Jump Financial LLC acquired a new stake in electroCore during the 1st quarter worth $95,000. Cubist Systematic Strategies LLC acquired a new stake in electroCore during the 1st quarter worth $153,000. Finally, DnB Asset Management AS acquired a new stake in electroCore during the 4th quarter worth $180,000. Institutional investors and hedge funds own 26.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ECOR shares. LADENBURG THALM/SH SH cut their target price on shares of electroCore from $28.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, March 13th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of electroCore in a report on Thursday, March 13th.

About electroCore

electroCore, Inc, a commercial stage bioelectronic medicine and wellness company, provides non-invasive vagus nerve stimulation technology platform in the United States, the United Kingdom, and internationally. The company is developing gammaCore, a prescription only handheld device intended for regular or intermittent use for the acute treatment of pain associated with migraine and episodic cluster headache, as well as for the treatment of hemicrania continua and paroxysmal hemicrania.