EnteroMedics Inc. (ETRM) Cut to Hold at Zacks Investment Research

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 reissued a “buy” rating and set a $11.00 target price on shares of EnteroMedics in a report on Thursday, May 25th.

EnteroMedics (NASDAQ:ETRM) traded down 2.03% during trading on Thursday, hitting $1.93. 379,590 shares of the stock were exchanged. EnteroMedics has a 1-year low of $1.75 and a 1-year high of $30.41. The stock’s market cap is $16.01 million. The firm’s 50 day moving average price is $4.01 and its 200-day moving average price is $5.22.

EnteroMedics (NASDAQ:ETRM) last posted its quarterly earnings data on Tuesday, August 8th. The medical device company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.09. The firm had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.20 million. EnteroMedics had a negative return on equity of 167.73% and a negative net margin of 4,399.48%. On average, analysts anticipate that EnteroMedics will post ($3.97) EPS for the current year.

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An institutional investor recently raised its position in EnteroMedics stock. Vanguard Group Inc. increased its stake in EnteroMedics Inc. (NASDAQ:ETRM) by 24.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,740 shares of the medical device company’s stock after buying an additional 9,727 shares during the period. Vanguard Group Inc. owned approximately 0.72% of EnteroMedics worth $248,000 as of its most recent filing with the SEC. Institutional investors own 2.80% of the company’s stock.

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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