Analyst: This Small-Cap Stock Could Triple

Analysts are overwhelmingly bullish on ECOR stock

May 9, 2019 at 11:10 AM
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Noble Capital initiated coverage on electroCore, Inc. (NASDAQ:ECOR) with an "outperform" rating and $19 price target -- a 232% premium to last night's close at $5.71. The brokerage firm said the nerve stimulation specialist's gammaCore technology "is a compelling option for patients suffering from headache to provide pain relief," and could result in "higher market share ... in the billion-dollar pain market."

The bull note has failed to boost ECOR today, though, with the stock last seen down 4.9% at $5.61. This negative price action is just more of the same for an equity that's pacing for its sixth straight loss -- its longest losing streak since late October -- and has shed 68.8% since opening at $18 in its public trading debut back on June 22.

ecor stock daily price chart on may 9

Analysts overwhelmingly echo Noble Capital's upbeat assessment of ECOR stock, though, with 100% of those in coverage maintaining a "buy" or better rating. Plus, the average 12-month price target sits all the way up at $22.25.

Short sellers, on the other hand, have been actively betting against electroCore stock. Short interest has doubled year-to-date to 1.53 million shares. This represents more than one-fifth of ECOR's available float, or 9.3 times the average daily pace of trading.

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