NasdaqGS:ECOR

Stock Analysis Report

Executive Summary

electroCore, Inc., a bioelectronic medicine company, engages in developing a range of patient-administered non-invasive vagus nerve (VNS) stimulation therapies for the treatment of various conditions in neurology, rheumatology, and other fields.

Snowflake

Fundamentals

Adequate balance sheet and fair value.


Similar Companies

Share Price & News

How has electroCore's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-27.9%

ECOR

3.2%

US Medical Equipment

3.4%

US Market


1 Year Return

-84.7%

ECOR

10.0%

US Medical Equipment

5.4%

US Market

Return vs Industry: ECOR underperformed the US Medical Equipment industry which returned 10% over the past year.

Return vs Market: ECOR underperformed the US Market which returned 5.4% over the past year.


Shareholder returns

ECORIndustryMarket
7 Day-27.9%3.2%3.4%
30 Day-51.4%-1.8%-1.0%
90 Day45.4%-0.4%-0.4%
1 Year-84.7%-84.7%10.9%10.0%7.7%5.4%
3 Yearn/a69.9%64.8%46.2%36.8%
5 Yearn/a128.2%102.9%65.6%47.5%

Price Volatility Vs. Market

How volatile is electroCore's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is electroCore undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: ECOR ($1.89) is trading below our estimate of fair value ($148.75)

Significantly Undervalued: ECOR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: ECOR is unprofitable, so we can't compare its PE Ratio to the Medical Equipment industry average.

PE vs Market: ECOR is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate ECOR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ECOR is good value based on its PB Ratio (1.4x) compared to the US Medical Equipment industry average (3.6x).


Next Steps

Future Growth

How is electroCore forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

44.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ECOR is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: ECOR is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: ECOR is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: ECOR's revenue (59% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: ECOR's revenue (59% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if ECOR's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has electroCore performed over the past 5 years?

-784.4%

Last years earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ECOR is unprofitable, and there is insufficient past data to establish if their past 5-year earnings growth rate was positive.

Accelerating Growth: Unable to compare ECOR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ECOR is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (28.2%).


Return on Equity

High ROE: ECOR has a negative Return on Equity (-130.53%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: ECOR is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: ECOR is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is electroCore's financial position?


Financial Position Analysis

Short Term Liabilities: ECOR's short term assets ($47.2M) exceeds its short term liabilities ($7.1M)

Long Term Liabilities: ECOR's short term assets (47.2M) exceeds its long term liabilities (1.7M)


Debt to Equity History and Analysis

Debt Level: ECOR is debt free.

Reducing Debt: ECOR had no debt 5 years ago.


Balance Sheet

Inventory Level: ECOR has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if ECOR's debt is covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: ECOR has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if ECOR has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is electroCore's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.8%industryaverage1.2%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate ECOR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ECOR's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if ECOR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ECOR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ECOR's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of electroCore's salary, the management and board of directors tenure and is there insider trading?

0.7yrs

Average management tenure


CEO

Dan Goldberger (60yo)

0yrs

Tenure

0

Mr. Daniel S. Goldberger, also known as Dan, has been Chief Executive Officer and Director at electroCore, Inc. since October 1, 2019. Mr. Goldberger served as Executive Chairman at Repro Med Systems, Inc. ...


Management Age and Tenure

0.7yrs

Average Tenure

55yo

Average Age

Experienced Management: ECOR's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.


Board Age and Tenure

3.7yrs

Average Tenure

61yo

Average Age

Experienced Board: ECOR's board of directors are considered experienced (3.7 years average tenure).


Insider Trading

Insider Buying: ECOR insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$30,73820 Aug 19
Thomas Errico
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares18,974
Max PriceUS$1.62
BuyUS$78,08520 Aug 19
James L. Tullis
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares47,613
Max PriceUS$1.64
BuyUS$12,35812 Jun 19
Thomas Errico
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares7,000
Max PriceUS$1.77
BuyUS$18,20007 Jun 19
Carrie Cox
EntityIndividual
Role
Chairman of the Board
Independent Chairman of the Board
Shares10,000
Max PriceUS$1.82
BuyUS$17,22507 Jun 19
Brian Posner
EntityIndividual
Role
Chief Financial Officer
CFO & Corporate Secretary
Shares10,000
Max PriceUS$1.72
BuyUS$37,13907 Jun 19
Thomas Errico
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares21,000
Max PriceUS$1.82
BuyUS$48,30017 Dec 18
Peter Staats
EntityIndividual
Role
Consultant
Senior Executive Advisor of Medical & Government Affairs
Shares10,000
Max PriceUS$4.83
BuyUS$49,00910 Dec 18
Francis Amato
EntityIndividual
Shares7,500
Max PriceUS$6.53
BuyUS$49,58704 Dec 18
Carrie Cox
EntityIndividual
Role
Chairman of the Board
Independent Chairman of the Board
Shares7,300
Max PriceUS$6.79

Ownership Breakdown


Management Team

  • Dan Goldberger (60yo)

    CEO & Director

    • Tenure: 0yrs
  • Joseph Errico (50yo)

    Co-Founder

    • Tenure: 14.8yrs
    • Compensation: US$1.13m
  • Brian Posner (57yo)

    CFO & Corporate Secretary

    • Tenure: 0.5yrs
  • Peter Staats (55yo)

    Senior Executive Advisor of Medical & Government Affairs

    • Tenure: 0.6yrs
    • Compensation: US$723.73k
  • Eric Liebler (55yo)

    Senior Vice President of Neurology

    • Tenure: 6.8yrs
  • Tony Fiorino (52yo)

    Chief Medical Officer

    • Tenure: 0.6yrs
  • Mike Romaniw (62yo)

    Vice President of Operations

    • Tenure: 0.8yrs

Board Members

  • Trevor Moody (54yo)

    Independent Director

    • Tenure: 6.6yrs
    • Compensation: US$223.73k
  • Dan Goldberger (60yo)

    CEO & Director

    • Tenure: 0yrs
  • Carrie Cox (61yo)

    Independent Chairman of the Board

    • Tenure: 1.3yrs
    • Compensation: US$235.86k
  • MIke Atieh (65yo)

    Independent Director

    • Tenure: 1.3yrs
    • Compensation: US$229.53k
  • Jim Tullis (72yo)

    Independent Director

    • Tenure: 5.3yrs
    • Compensation: US$225.32k
  • Thomas Errico (67yo)

    Independent Director

    • Tenure: 14.1yrs
    • Compensation: US$227.69k
  • Joseph Errico (50yo)

    Co-Founder

    • Tenure: 14.8yrs
    • Compensation: US$1.13m
  • Nick Colucci (59yo)

    Independent Director

    • Tenure: 2.2yrs
    • Compensation: US$228.35k
  • Stephen Ondra (62yo)

    Independent Director

    • Tenure: 1.3yrs
    • Compensation: US$223.07k

Company Information

electroCore, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: electroCore, Inc.
  • Ticker: ECOR
  • Exchange: NasdaqGS
  • Founded: 2005
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: US$55.932m
  • Shares outstanding: 29.59m
  • Website: https://www.electrocore.com

Number of Employees


Location

  • electroCore, Inc.
  • 150 Allen Road
  • Suite 201
  • Basking Ridge
  • New Jersey
  • 7920
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ECORNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJun 2018
43EDB (Deutsche Boerse AG)YesCommon StockDEEURJun 2018

Biography

electroCore, Inc., a bioelectronic medicine company, engages in developing a range of patient-administered non-invasive vagus nerve (VNS) stimulation therapies for the treatment of various conditions in ne ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 00:44
End of Day Share Price2019/10/15 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.