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electroCore (ECOR) Moves 7.1% Higher: Will This Strength Last?
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electroCore, Inc. (ECOR - Free Report) shares soared 7.1% in the last trading session to close at $6.65. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3% loss over the past four weeks.
electroCore’s stock price gain can be attributed to increasing investor confidence in recent pipeline developments which are centered on expanding the clinical and commercial applications of its non-invasive vagus nerve stimulation (nVNS) platform beyond its already approved headache indications. The company recently announced the enrollment of the first eight patients in a 40-subject clinical study evaluating its gammaCore nVNS device as an adjunctive treatment for post-traumatic stress disorder (PTSD) over a 12-week period, marking an important step into mental health indications.
This company is expected to post quarterly loss of $0.59 per share in its upcoming report, which represents a year-over-year change of -25.5%. Revenues are expected to be $8.95 million, up 33.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For electroCore, the consensus EPS estimate for the quarter has been revised 10.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ECOR going forward to see if this recent jump can turn into more strength down the road.
electroCore belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, 4D Molecular Therapeutics, Inc. (FDMT - Free Report) , closed the last trading session 2.6% lower at $9.84. Over the past month, FDMT has returned 18.3%.
For 4D Molecular Therapeutics, the consensus EPS estimate for the upcoming report has changed +7% over the past month to -$0.97. This represents a change of -12.8% from what the company reported a year ago. 4D Molecular Therapeutics currently has a Zacks Rank of #3 (Hold).
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electroCore (ECOR) Moves 7.1% Higher: Will This Strength Last?
electroCore, Inc. (ECOR - Free Report) shares soared 7.1% in the last trading session to close at $6.65. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3% loss over the past four weeks.
electroCore’s stock price gain can be attributed to increasing investor confidence in recent pipeline developments which are centered on expanding the clinical and commercial applications of its non-invasive vagus nerve stimulation (nVNS) platform beyond its already approved headache indications. The company recently announced the enrollment of the first eight patients in a 40-subject clinical study evaluating its gammaCore nVNS device as an adjunctive treatment for post-traumatic stress disorder (PTSD) over a 12-week period, marking an important step into mental health indications.
This company is expected to post quarterly loss of $0.59 per share in its upcoming report, which represents a year-over-year change of -25.5%. Revenues are expected to be $8.95 million, up 33.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For electroCore, the consensus EPS estimate for the quarter has been revised 10.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ECOR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
electroCore belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, 4D Molecular Therapeutics, Inc. (FDMT - Free Report) , closed the last trading session 2.6% lower at $9.84. Over the past month, FDMT has returned 18.3%.
For 4D Molecular Therapeutics, the consensus EPS estimate for the upcoming report has changed +7% over the past month to -$0.97. This represents a change of -12.8% from what the company reported a year ago. 4D Molecular Therapeutics currently has a Zacks Rank of #3 (Hold).