EnteroMedics Inc (ETRM) was Downgraded by ROTH Capital to ” Neutral” while Lowering the Price Target of the company shares to $ 0.50 from a previous price target of $3 . Earlier the firm had a rating of “Buy ” on the company shares. ROTH Capital advised their investors in a research report released on Jun 9, 2016.
EnteroMedics Inc closed down -0.0001 points or -0.02% at $0.48 with 1,75,189 shares getting traded on Tuesday. Post opening the session at $0.4801, the shares hit an intraday low of $0.46 and an intraday high of $0.5209 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Jun 6, 2016, Peter M. Delange (SVP, Ops & Bus Dev) purchased 20,000 shares at $0.55 per share price. According to the SEC, on May 18, 2016, Dan W Gladney (CEO) purchased 84,745 shares at $0.72 per share price. On Nov 16, 2015, Mark B Knudson (CEO) purchased 310,000 shares at $0.16 per share price, according to the Form-4 filing with the securities and exchange commission.
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 using high frequency low energy electrical impulses. The Company’s initial product is the Maestro System which uses VBLOC therapy to affect metabolic regulatory control limits the expansion of the stomach help control hunger sensations between meals reduce the frequency and intensity of stomach contractions and produce a feeling of early and prolonged fullness. The Company has approvals to commercially launch its product the Maestro Rechargeable System in the United States Australia the European Economic Area and other countries.