Envoy Medical’s (COCH) “Buy” Rating Reaffirmed at HC Wainwright

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

Other equities research analysts also recently issued reports about the stock. Lake Street Capital raised their price target on shares of Envoy Medical from $2.50 to $25.00 and gave the company a “buy” rating in a research note 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 objective on shares of Envoy Medical in a research note on Monday, July 27th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.00.

Envoy Medical Price Performance

NASDAQ:COCH opened at $7.15 on Monday. The stock’s 50-day simple moving average is $6.82 and its 200 day simple moving average is $6.88. The firm has a market capitalization of $55.20 million, a PE ratio of -1.55 and a beta of 2.03. Envoy Medical has a twelve month low of $3.63 and a twelve month high of $9.54.

Envoy Medical (NASDAQ:COCH) last issued its earnings results on Thursday, November 5th. The company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.67) by $0.17. The firm had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.09 million. Envoy Medical had a negative return on equity of 5,250.23% and a negative net margin of 9,026.41%. On average, analysts anticipate 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.