EnteroMedics (ETRM) Shares are Up 23.37%

EnteroMedics (ETRM) has been under a strong bear grip, hence the stock is down -5.59% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 23.41% in the past 1 week. The stock has risen by 23.37% in the past week indicating that the buyers are active at lower levels, but the stock is down -5.23% in the past 4 weeks.

EnteroMedics Inc. has dropped 69.34% during the last 3-month period . Year-to-Date the stock performance stands at -89.31%. The stock has recorded a 20-day Moving Average of 8.23% and the 50-Day Moving Average is 24.12%.


EnteroMedics (NASDAQ:ETRM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $0.19 and $0.18 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $0.23. The buying momentum continued till the end and the stock did not give up its gains. It closed at $0.21, notching a gain of 12.52% for the day. The total traded volume was 22,838,575 . The stock had closed at $0.19 on the previous day.

Also, Roth Capital downgrades their rating on the shares of EnteroMedics (NASDAQ:ETRM). The current rating of the shares is Neutral. Earlier, the shares were rated a Buy by the brokerage firm. Equity Analysts at the Firm lowers the price target to $0.5 per share from $3 per share. The rating by the firm was issued on June 9, 2016.

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 Companys 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 Companys 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.

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