EnteroMedics Inc. (ETRM) Stock Rating Lowered by Zacks Investment Research

EnteroMedics Inc. (NASDAQ:ETRM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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, Roth Capital cut EnteroMedics from a “buy” rating to a “neutral” rating and set a $3.00 price target for the company. in a research note on Thursday, June 9th.

Shares of EnteroMedics (NASDAQ:ETRM) opened at 0.1301 on Wednesday. The company’s market cap is $3.55 million. The company has a 50 day moving average of $0.15 and a 200-day moving average of $0.45. EnteroMedics has a 52 week low of $0.11 and a 52 week high of $4.95.

EnteroMedics (NASDAQ:ETRM) last issued its earnings results on Thursday, August 4th. The medical device company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.26. EnteroMedics had a negative return on equity of 1,361.34% and a negative net margin of 4,157.93%. On average, equities research analysts expect that EnteroMedics will post ($2.37) earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in EnteroMedics stock. Hudson Bay Capital Management LP purchased a new stake in shares of EnteroMedics Inc. (NASDAQ:ETRM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 204,836 shares of the medical device company’s stock, valued at approximately $198,000. Hudson Bay Capital Management LP owned 2.88% of EnteroMedics at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.82% of the company’s stock.

About EnteroMedics

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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