Follow these steps to overcome the issue.
- Disconnect all devices connected to system, and close all emulators running on System.
- Turn off Instant Run feature from settings.
- Perform a clean build.
- Turn on Instant Run feature from settings.
- Perform a clean build.
- Connect your device/start your emulator and ensure it is online.
- Run the project by selecting the device/emulator.
Note:
1) You should not have different instances of Android Debug Bridge(adb) running on system.
2) If using Genymotion then make sure that you use the custom sdk path mentioned in the Genymotion settings the which you mentioned in the settings of Android Studio.
These steps are likely to solve your issue, however it may also be a problem with android versions.