Envoy Medical (NASDAQ:COCH) Issues Earnings Results

Envoy Medical (NASDAQ:COCH) released its earnings results on Thursday. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.17, FiscalAI reports. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million.

Envoy Medical Price Performance

Shares of NASDAQ COCH traded up $0.05 during mid-day trading on Friday, hitting $7.15. The company had a trading volume of 50,474 shares, compared to its average volume of 21,609. The stock has a market cap of $55.20 million, a price-to-earnings ratio of -1.55 and a beta of 2.03. Envoy Medical has a 12 month low of $3.63 and a 12 month high of $9.54. The firm’s 50 day simple moving average is $6.82 and its two-hundred day simple moving average is $6.88.

Analysts Set New Price Targets

A number of brokerages have weighed in on COCH. HC Wainwright reissued a “buy” rating on shares of Envoy Medical in a report on Tuesday, October 13th. Loop Capital set a $20.00 price target on shares of Envoy Medical in a report on Monday, July 27th. Lake Street Capital boosted their price objective on shares of Envoy Medical from $2.50 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Envoy Medical in a research note on Monday, October 19th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Envoy Medical has an average rating of “Hold” and a consensus target price of $21.67.

Envoy Medical Company Profile

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.