Envoy Medical (NASDAQ:COCH) Given Buy Rating at HC Wainwright

Envoy Medical (NASDAQ:COCH)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report released on Monday, Benzinga reports. They presently have a $18.00 price target on the stock. HC Wainwright‘s price objective suggests a potential upside of 151.75% from the company’s previous close.

Several other research firms have also weighed in on COCH. Lake Street Capital raised their price objective on shares of Envoy Medical from $2.50 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, October 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Envoy Medical in a research report on Monday, October 19th. Finally, Loop Capital set a $20.00 price target on shares of Envoy Medical in a report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Envoy Medical presently has an average rating of “Hold” and a consensus target price of $21.00.

Envoy Medical Price Performance

COCH opened at $7.15 on Monday. Envoy Medical has a fifty-two week low of $3.63 and a fifty-two week high of $9.54. The company has a market capitalization of $55.20 million, a P/E ratio of -1.55 and a beta of 2.03. The firm’s fifty day moving average price is $6.82 and its two-hundred day moving average price is $6.88.

Envoy Medical (NASDAQ:COCH) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.17. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.09 million. Envoy Medical had a negative net margin of 9,026.41% and a negative return on equity of 5,250.23%. On average, equities research analysts expect that Envoy Medical will post -3.10 EPS for the current fiscal year.

About Envoy Medical

Envoy Medical is a medical technology company focused on developing fully implanted hearing devices for people with sensorineural hearing loss. Unlike conventional hearing aids and many cochlear implants, its technology is designed to be placed beneath the skin, with no external wearable sound processor.

The company’s lead product is the Acclaim Cochlear Implant, a fully implanted cochlear implant intended to address moderate-to-profound sensorineural hearing loss in adults. The system is designed to use the body’s natural anatomy to capture sound and convert it into electrical signals that stimulate the auditory nerve.