Electrocore (ECOR – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on the stock and has a $25.00 price target.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors that highlight Electrocore’s promising business outlook. The company demonstrated significant revenue growth in the first quarter of 2025, with a notable increase in sales of its gammaCore product within the VA hospital system. This upward trend is expected to persist, driven by an expanded sales force and a growing number of VA facilities purchasing the product.
Additionally, Electrocore’s Truvaga product line showed remarkable year-over-year growth, supported by diverse sales channels and international expansion plans. The acquisition of NeuroMetrix has also enriched Electrocore’s portfolio with the Quell and Sparrow Ascent devices, which are anticipated to contribute to revenue in the coming years. Despite a slight miss on revenue expectations for 1Q25, the company’s financial position remains stable, with sufficient cash reserves to support ongoing operations.