ROCKAWAY, NJ—In a recent transaction filed with the Securities and Exchange Commission, Daniel S. Goldberger, Chief Executive Officer of electroCore, Inc. (NASDAQ:ECOR), acquired 1,000 shares of the company’s common stock. The shares were purchased at a price of $8.59 each, totaling $8,590. The insider purchase comes as the stock has experienced a significant 37% decline over the past week, according to InvestingPro data.
Following this transaction, Goldberger’s direct ownership now includes 290,565 shares, which encompass additional shares issuable pursuant to previously granted Restricted Stock Units (RSUs). These RSUs have various vesting schedules, with some shares already vested and others set to vest in the coming years. The company, currently valued at $54 million, has demonstrated strong revenue growth of 57% and maintains an impressive gross margin of 85%, based on InvestingPro analysis.
electroCore, Inc., based in Rockaway, New Jersey, specializes in electromedical and electrotherapeutic apparatus, providing innovative solutions in the healthcare sector. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with 8 additional real-time insights available to subscribers.
In other recent news, electroCore Inc. reported a substantial increase in revenue for the fiscal year 2024, with total revenues reaching $25.2 million, marking a 57% rise from the previous year. The company’s gross margin also improved to 85%, up from 83% in 2023, while net losses were reduced by 37% to $11.9 million. Sales through the Veterans Affairs (VA) and Department of Defense (DoD) channels were the primary revenue drivers, contributing $17.8 million, an 85% year-over-year growth. H.C. Wainwright maintained a Buy rating on electroCore with a price target of $25, highlighting the company’s strategic partnerships and expansion plans.
ElectroCore ’s acquisition of NeuroMetrix (NASDAQ:NURO) is expected to enhance its product offerings and offset potential challenges in the VA/DoD channels. The company is optimistic about the growth of its prescription gammaCore sales and the potential expansion of its Truvega wellness product line into international markets. Despite these positive developments, the company’s stock experienced a decline in aftermarket trading, reflecting investor concerns over future guidance and strategic challenges. ElectroCore did not provide specific guidance for 2025 due to the pending acquisition of NeuroMetrix, but it remains focused on expanding its sales channels and exploring new product indications.
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