Ascendiant initiated coverage of Envoy Medical with a Buy rating and $8.50 price target. The company’s medical devices are designed to bring both providers and patients hearing devices with improved technology, ease of use, access, usability, independence, and quality of life, the analyst tells investors in a research note. The firm sees large market opportunities for Envoy’s Acclaim CI to treat hearing loss. It believes positive clinical milestones in 2024 will be “strong catalysts” for the stock.
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