electroCore, Inc.
$9.75
-1.1%electroCore, Inc., a commercial stage medical device company, engages in the development and commercialization of a range of non-invasive vagus nerve stimulation (nVNS) therapies. The company is developing gammaCore, a prescription-only nVNS therapy for the acute treatment of pain associated with migraine and episodic cluster headache in adults. Its lead product is gammaCore Sapphire, a rechargeable and reloadable handheld device for regular or intermittent use over many years. The company was incorporated in 2005 and is headquartered in Rockaway, New Jersey.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
Medium confidenceValuation multiple is compressed (P/E -5.9).
Valuation inputs: P/E -5.9, earnings yield N/A, momentum -1.1%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE +8.2%, ROIC -1.7%).
Profitability stack: net margin -43.6%, ROE +8.2%, ROIC -1.7%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceDownside profile is elevated and scenario stress-testing is essential.
Risk factors: liabilities/assets +109.2%, momentum -1.1%, net margin -43.6%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
electroCore, Inc. Market vs Earnings Trajectory
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electroCore, Inc. Fair Value Envelope
electroCore, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.
Net Profit Margin
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Profitability Insight
Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.
electroCore, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Weak cash conversion. Significant portion of earnings not converting to cash—review working capital trends and capital intensity.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working Capital Impact
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Cash Flow Quality Insight
Deteriorating cash generation: Both declining FCF and weak conversion rate signal fundamental challenges. Investigate margin pressure, rising costs, or working capital issues.
electroCore, Inc. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Acceptable liquidity, but monitor closely. Current assets just barely cover current liabilities.
Working Capital
Positive working capital, but relatively tight. The company should monitor cash flow carefully.
Asset Composition
Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.
electroCore, Inc. Street Expectations Map
No Target Data
No analyst price targets available for ecor.
electroCore, Inc. Insider Positioning
During the last 12 months, insiders have purchased $136K and sold $202K worth of ECOR shares, resulting in $66K of net selling activity.
3 Months
10.0K
59.85K
25.7K
176.26K
-116K
-$116K
3-6 Months
0
0.00
0
0.00
+0
+$0
6-9 Months
1.0K
4.84K
4.7K
26.01K
-21K
-$21K
9-12 Months
16.0K
71.28K
0
0.00
+71K
+$71K
Top Buyers
Errico Thomas J.
Director
$127K
Goldberger Daniel S
Director, Officer: Chief Executive Officer
$9K
Top Sellers
Lev Joshua S.
Officer: Cfo And Interim President
$106K
Goldberger Daniel S
Other: Former Officer And Director
$97K
Insider Activity Analysis
Net Insider Sentiment
Slightly bearish with $66K net selling. Selling modestly exceeds buying, which could be routine diversification rather than concern.
Buy/Sell Ratio
Moderately negative ratio. Selling is roughly double the buying, which may be routine or signal caution.
Recent Trend (3 Months)
Negative recent trend with net selling. Insiders have reduced positions in recent months, which could signal caution.
Insider Participation
2 insider buyers and 2 sellers. Equal participation suggests mixed or neutral insider views.
ecor Dividend History
Learning Layer
Related Guides
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Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.