Research analysts at Lake Street Capital started coverage on shares of Envoy Medical (NASDAQ:COCH – Get Free Report) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $2.50 price target on the stock. Lake Street Capital’s price objective points to a potential upside of 282.61% from the stock’s current price.
COCH has been the topic of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a report on Tuesday, July 21st. Loop Capital set a $2.00 target price on shares of Envoy Medical in a report on Monday, July 27th. Finally, HC Wainwright dropped their target price on shares of Envoy Medical from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.17.
Read Our Latest Research Report on COCH
Envoy Medical Stock Up 0.3%
Envoy Medical (NASDAQ:COCH – Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $0.05 million. As a group, analysts anticipate that Envoy Medical will post -0.31 earnings per share for the current year.
Institutional Inflows and Outflows
An institutional investor recently bought a new stake in Envoy Medical stock. DSG Capital Advisors LLC acquired a new position in Envoy Medical, Inc. (NASDAQ:COCH – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 625,000 shares of the company’s stock, valued at approximately $416,000. DSG Capital Advisors LLC owned approximately 0.81% of Envoy Medical at the end of the most recent quarter. 8.59% of the stock is currently owned by institutional investors and hedge funds.
Envoy Medical Company Profile
Envoy Medical, Inc is a medical device company focused on developing fully implanted hearing solutions for people with hearing loss. The company’s technology is designed to use the body’s natural anatomy to capture sound and deliver hearing signals without the need for externally worn components.
Its lead product is the Acclaim Fully Implanted Cochlear Implant, an investigational device intended for adults with sensorineural hearing loss who may benefit from cochlear implantation. Unlike conventional cochlear implants, the Acclaim system is designed to be fully implanted, including its sound-sensing component, with the goal of allowing users to hear without an external sound processor.
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