The Overbought Territory Entered By The EnteroMedics Inc (NASDAQ:ETRM) On 6th December 2013

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Dallas, Texas 12/09/2013 (Financialstrend) – EnteroMedics Inc (NASDAQ:ETRM) recently entered into overbought territory with an RSI value of 71.9. Moreover currently the EnteroMedics has a sell rating and has a Zacks Rank #4 which suggests that investors might exit this stock before it falls to a new low. But it felt more surprising when Northland Capital Partners raised the price target of EnteroMedics from $3 to $7. As per them they have maintained an outperform rating for the medico company and it is because of this target price a potential upside of 410.95% is possible.

Moreover the shares of EnteroMedics Inc (NASDAQ:ETRM) were up by 33.58% on Tuesday during the Mid-day trading and touched $1.83. The overall volume was around 11,205,742 shares. The 52-week low of EnteroMedics is $0.81 and 52-week high is $3.23. The 50 day moving average of the stock is $1.36 and the 200-day moving average is $1.1. The current market capitalization of EnteroMedics is $111.1 million.

How study results helped EnteroMedics to broke out to a 10-month high?

The results announced from its 5-year Recharge Pivotal Trial of VBLOC vagal blocking therapy for the treatment of obesity o Tuesday morning also helped the company to broke out to a 10-month high. All the patients under the VBLOC group managed to achieve 25% excess weight loss or we can say that almost 10% of the total body weight loss which is quite good as compared to 12% excess weight loss and 4% of the total body weight loss for the control group patients.

All these discoveries and innovations are seen as a potential driving growth for EnteroMedics Inc (NASDAQ:ETRM) and the EnteroMedics shares might touch a new high in the coming months. Hence it is better to stay invested with this company for longer duration of time.

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