EnteroMedics Inc. (NASDAQ:ETRM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, July 20th.
According to Zacks, “EnteroMedics Inc. was established to develop and commercialize a new therapeutic platform for treating a wide range of acute and chronic diseases that are mediated by the vagal nerves. Due to the large unmet need for more effective surgical management of obesity, and following an in-depth analysis of how the vagus nerve affects food intake and processing, EnteroMedics has selected obesity management as its primary focus. “
Separately, Ladenburg Thalmann Financial Services started coverage on shares of EnteroMedics in a report on Wednesday, May 3rd. They set a “buy” rating and a $11.00 price target on the stock.
EnteroMedics (NASDAQ:ETRM) traded up 0.7880% on Thursday, reaching $3.8501. 116,200 shares of the company traded hands. EnteroMedics has a 52-week low of $1.75 and a 52-week high of $30.41. The stock has a 50-day moving average of $4.70 and a 200 day moving average of $5.56. The company’s market capitalization is $26.59 million.
EnteroMedics (NASDAQ:ETRM) last issued its quarterly earnings results on Tuesday, May 16th. The medical device company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by $0.64. The business had revenue of $0.04 million for the quarter. EnteroMedics had a negative return on equity of 506.36% and a negative net margin of 3,088.74%. On average, equities analysts forecast that EnteroMedics will post ($3.97) EPS for the current year.
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EnteroMedics Company Profile
EnteroMedics Inc (EnteroMedics) is a medical device company. The Company is focused on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders. The Company’s neuroblocking technology, which is referred to as VBLOC therapy, is designed to intermittently block the vagus nerve.
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