EnteroMedics Inc. (NASDAQ:ETRM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, July 21st. The firm presently has a $5.00 price target on the medical device company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 51.06% from the stock’s current price.
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 reissued a “buy” rating and issued a $11.00 target price on shares of EnteroMedics in a research note on Thursday, May 25th.
Shares of EnteroMedics (NASDAQ:ETRM) opened at 3.31 on Friday. The stock’s 50 day moving average price is $4.44 and its 200-day moving average price is $5.42. EnteroMedics has a 52-week low of $0.04 and a 52-week high of $30.41. The stock’s market cap is $24.83 million.
EnteroMedics (NASDAQ:ETRM) last issued its earnings results on Tuesday, August 8th. The medical device company reported ($0.91) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.00) by $0.09. EnteroMedics had a negative net margin of 4,399.48% and a negative return on equity of 342.82%. The business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.20 million. On average, analysts predict that EnteroMedics will post ($3.97) earnings per share for the current fiscal 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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