A combination of a large, addressable market, regulatory approvals, strong partnerships and an effective product makes the analysts at Ladenburg Thalmann optimistic ElectroCore, Inc. (NASDAQ: ECOR).
The electroCore analyst: Jeffrey Cohen started reporting on electroCore with a buy rating and a price target of $ 3.
The electroCore tips: ElectroCore is involved in the commercialization of the gammaCore Sapphire device, a non-invasive vagus nerve stimulator, Cohen said.
The device is primarily intended to treat and prevent cluster headaches and migraines, the analyst said.
GammaCore Sapphire has also received approvals for additional use cases for respiratory complications, such as improving airflow in COVID-19 patients, he said.
The analyst highlighted other potential use cases in studies, including patients with PTSD, moderate traumatic brain injury, or painful chronic pancreatitis.
ElectroCore holds 21 patents for gammaCore Sapphire, with additional patents pending, said Cohen.
According to the WHO, headache disorders are the most common diseases of the nervous system that affect people in all population groups.
Around 30% of people suffer from migraines and nearly 4% of adults worldwide suffer from chronic headaches, the analyst said.
In the United States alone, around 40 million people regularly suffer from migraines or cluster headaches, he said.
From an economic perspective, around $ 240 billion is lost annually to headache-related productivity losses among workers, Cohen said.
ECOR price promotion: electroCore rose 3.92% to $ 0.97 at the close of trading on Tuesday.