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

Envoy Medical (NASDAQ:COCH)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $2.50 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 229.51% from the stock’s current price.

A number of other research firms also recently issued reports on COCH. Zacks Research raised Envoy Medical to a “hold” rating in a research report on Wednesday, April 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a research report on Friday, April 24th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.50.

Envoy Medical Price Performance

COCH opened at $0.76 on Wednesday. The firm’s fifty day moving average price is $0.69 and its two-hundred day moving average price is $0.68. The company has a market capitalization of $58.33 million, a price-to-earnings ratio of -0.75 and a beta of 1.88. Envoy Medical has a 1 year low of $0.36 and a 1 year high of $1.89.

Envoy Medical (NASDAQ:COCH) last posted its earnings results on Monday, May 11th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.03. The firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.10 million. As a group, equities analysts anticipate that Envoy Medical will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Envoy Medical

A number of large investors have recently modified their holdings of the company. DSG Capital Advisors LLC bought a new position in shares of Envoy Medical in the first quarter valued at approximately $416,000. Geode Capital Management LLC increased its holdings in Envoy Medical by 111.3% during the 4th quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock worth $65,000 after acquiring an additional 51,813 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Envoy Medical in the 3rd quarter worth approximately $60,000. Finally, Focus Partners Wealth purchased a new stake in Envoy Medical in the 1st quarter worth approximately $276,000. 8.59% of the stock is currently owned by institutional investors.

About Envoy Medical

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.