ElectroCore Stock Is Trading Higher As Ladenburg Initiates Coverage With $3 Price Target, Buy Rating

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  • Ladenburg Thalmann has initiated coverage of ElectroCore Inc ECOR with a Buy rating and $3 price target, implying an upside of around 190%.
  • The Company's gammaCore Sapphire device is currently commercially available both in the U.S. and outside the U.S., and analyst Jeffrey Cohen believes that electroCore should be valued in comparison with other innovative healthcare and bioelectric companies, he tells investors. 
  • In the U.S., Sapphire has clearance for the treatment and prevention of cluster headaches and migraines. Cohen noted that the gammaCore Sapphire could also be utilized for asthma exacerbations in known or suspected COVID-19 patients under FDA emergency use authorization.
  • The United States Patent and Trademark Office (USPTO) has issued a patent to electroCore, relating to using a mobile phone to stimulate the trigeminal nerve to treat disorders.
  • Price Action: ECOR shares are up 12.9% at $1.05 on robust volume during the premarket session on the last check Tuesday.
  • Related content: Benzinga's Full FDA Calendar.
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Posted In: NewsPenny StocksHealth CarePrice TargetInitiationFDAAnalyst RatingsGeneralBriefs
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