Enteromedics (NASDAQ: ETRM) had its price target lowered by Canaccord Genuity from $4.00 to $3.00 in a research note released on Friday morning. They currently have a buy rating on the stock.
“We maintain our BUY rating following the recent $13M financing which bolstered the cash position. We believe EnteroMedics now has enough breathing room to maneuver through the US PMA regulatory process for its Maestro RC product. We’ve adjusted our model to reflect the increased share count.,” Canaccord Genuity’s analyst commented.
Shares of Enteromedics traded up 9.21% during mid-day trading on Friday, hitting $0.9713. Enteromedics has a one year low of $0.81 and a one year high of $4.40. The stock’s 50-day moving average is currently $1.97. The company’s market cap is $40.5 million.
ETRM has been the subject of a number of other recent research reports. Analysts at Roth Capital cut their price target on shares of Enteromedics from $5.00 to $3.00 in a research note to investors on Monday, February 11th.
Four investment analysts have rated the stock with a buy rating, and one has given a sell rating to the stock. The company has a consensus rating of overweight and a consensus price target of $4.12.
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