HC Wainwright Cuts Envoy Medical (NASDAQ:COCH) Price Target to $2.00

Envoy Medical (NASDAQ:COCH) had its target price trimmed by HC Wainwright from $2.50 to $2.00 in a research note released on Friday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also issued reports on COCH. Weiss Ratings reiterated a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, July 21st. Loop Capital set a $2.00 price objective on shares of Envoy Medical in a research note on Monday, July 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Envoy Medical has a consensus rating of “Hold” and a consensus price target of $2.00.

Envoy Medical Price Performance

Shares of COCH opened at $0.75 on Friday. The stock has a market capitalization of $57.90 million, a P/E ratio of -0.99 and a beta of 1.90. Envoy Medical has a twelve month low of $0.36 and a twelve month high of $1.89. The company has a 50 day moving average of $0.70 and a 200-day moving average of $0.69.

Envoy Medical (NASDAQ:COCH) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.05 million. On average, sell-side analysts anticipate that Envoy Medical will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Envoy Medical

Hedge funds have recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new position in Envoy Medical during the third quarter worth approximately $60,000. Geode Capital Management LLC raised its stake in Envoy Medical by 111.3% in the fourth quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock valued at $65,000 after buying an additional 51,813 shares during the period. Focus Partners Wealth acquired a new stake in shares of Envoy Medical in the first quarter valued at approximately $276,000. Finally, DSG Capital Advisors LLC acquired a new stake in shares of Envoy Medical in the first quarter valued at approximately $416,000. 8.59% of the stock is currently owned by institutional investors and hedge funds.

Envoy Medical Company Profile

Envoy Medical (NASDAQ:COCH) is a medical device company focused on non-invasive neuromodulation therapies for dysphagia, a swallowing disorder that affects patients following neurological events or due to degenerative conditions. The company’s lead technology delivers targeted electrical stimulation designed to strengthen the muscles and neural pathways involved in the swallowing process.

Envoy Medical’s flagship therapy has received regulatory clearance from the U.S. Food and Drug Administration and is being introduced through rehabilitation centers, speech-language pathology clinics and acute care hospitals.