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

Envoy Medical (NASDAQ:COCH) had its price objective dropped by equities research analysts at HC Wainwright from $2.50 to $2.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 166.52% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a research report on Tuesday, July 21st. Loop Capital set a $2.00 price target on Envoy Medical in a research note on Monday, July 27th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Envoy Medical presently has an average rating of “Hold” and a consensus price target of $2.00.

Envoy Medical Price Performance

Shares of COCH opened at $0.75 on Friday. Envoy Medical has a 1-year low of $0.36 and a 1-year high of $1.89. The stock has a market cap of $57.93 million, a PE ratio of -0.99 and a beta of 1.90. The firm has a fifty day moving average price of $0.70 and a 200 day moving average price of $0.69.

Envoy Medical (NASDAQ:COCH) last posted its earnings results on Monday, August 10th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.05 million. As a group, equities analysts expect that Envoy Medical will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Envoy Medical

Hedge funds have recently modified their holdings of the stock. CIBC Bancorp USA Inc. acquired a new stake in Envoy Medical during the third quarter valued at $60,000. Geode Capital Management LLC raised its stake in shares of Envoy Medical by 111.3% in the 4th 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 in the last quarter. Focus Partners Wealth bought a new position in shares of Envoy Medical during the 1st quarter worth approximately $276,000. Finally, DSG Capital Advisors LLC acquired a new position in shares of Envoy Medical in the 1st quarter worth approximately $416,000. 8.59% of the stock is currently owned by institutional investors and hedge funds.

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.