Envoy Medical (NASDAQ:COCH) Price Target Raised to $25.00

Envoy Medical (NASDAQ:COCH) had its target price raised by Lake Street Capital from $2.50 to $25.00 in a report published on Tuesday morning,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Several other brokerages also recently commented on COCH. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envoy Medical in a research report on Monday, October 19th. Loop Capital set a $20.00 price objective on shares of Envoy Medical in a research note on Monday, July 27th. Finally, HC Wainwright reiterated a “buy” rating on shares of Envoy Medical in a research report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.67.

Envoy Medical Price Performance

COCH stock opened at $6.50 on Tuesday. The stock has a 50-day moving average price of $6.88 and a 200-day moving average price of $6.87. Envoy Medical has a 1-year low of $3.63 and a 1-year high of $9.54.

Envoy Medical (NASDAQ:COCH) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.10. The business had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.05 million. As a group, equities research analysts forecast that Envoy Medical will post -3.10 earnings per share for the current year.

Hedge Funds Weigh In On Envoy Medical

A hedge fund recently bought a new position in Envoy Medical stock. DSG Capital Advisors LLC bought a new position in Envoy Medical, Inc. (NASDAQ:COCH) during the first quarter, according to its most recent filing with the SEC. The firm bought 625,000 shares of the company’s stock, valued at approximately $416,000. DSG Capital Advisors LLC owned approximately 0.81% of Envoy Medical as of its most recent SEC filing. 8.59% of the stock is currently owned by institutional investors and hedge funds.

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.