Myomo (NYSEAMERICAN:MYO) Price Target Raised to $9.00

Myomo (NYSEAMERICAN:MYO) had its target price raised by Craig Hallum from $7.00 to $9.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently commented on MYO. Ascendiant Capital Markets raised their price objective on Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and issued a $7.50 price objective on shares of Myomo in a report on Wednesday, November 13th.

Myomo Price Performance

Myomo stock opened at $6.26 on Friday. Myomo has a 12-month low of $2.51 and a 12-month high of $6.74. The stock has a market capitalization of $189.37 million, a PE ratio of -27.22 and a beta of 1.71.

Myomo (NYSEAMERICAN:MYO) last released its earnings results on Wednesday, November 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Myomo had a negative return on equity of 86.30% and a negative net margin of 33.22%. The firm had revenue of $9.21 million for the quarter, compared to analysts’ expectations of $7.95 million. Research analysts forecast that Myomo will post -0.19 EPS for the current year.

Institutional Investors Weigh In On Myomo

Institutional investors and hedge funds have recently made changes to their positions in the stock. Herr Investment Group LLC lifted its holdings in shares of Myomo by 72.9% during the second quarter. Herr Investment Group LLC now owns 2,846,071 shares of the company’s stock worth $9,136,000 after purchasing an additional 1,200,244 shares during the period. Rosalind Advisors Inc. boosted its holdings in shares of Myomo by 13.4% in the 3rd quarter. Rosalind Advisors Inc. now owns 3,021,391 shares of the company’s stock valued at $12,116,000 after acquiring an additional 356,392 shares during the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of Myomo by 40.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 899,135 shares of the company’s stock valued at $3,606,000 after acquiring an additional 257,749 shares during the last quarter. AIGH Capital Management LLC increased its stake in shares of Myomo by 4.1% in the second quarter. AIGH Capital Management LLC now owns 2,917,997 shares of the company’s stock worth $9,367,000 after acquiring an additional 115,405 shares during the period. Finally, Stonepine Capital Management LLC purchased a new position in shares of Myomo during the third quarter worth $401,000. 44.99% of the stock is currently owned by institutional investors and hedge funds.

Myomo Company Profile

Myomo, Inc, a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States, China, Germany, and internationally. The company offers MyoPro, a myoelectric-controlled upper limb brace or orthosis product used for supporting a patient’s weak or paralyzed arm to enable and improve functional activities of daily living.