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

Myomo (NYSEAMERICAN:MYO - Get Free Report) had its target price hoisted by research analysts at Ascendiant Capital Markets from $8.50 to $9.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Ascendiant Capital Markets' target price would suggest a potential upside of 80.36% from the stock's previous close.

A number of other equities analysts have also commented on MYO. Craig Hallum assumed coverage on shares of Myomo in a research report on Wednesday, July 31st. They set a "buy" rating and a $7.00 target price on the stock. HC Wainwright increased their target price on Myomo from $6.50 to $7.50 and gave the stock a "buy" rating in a research note on Monday, August 12th.

Myomo Trading Up 1.8 %

Shares of NYSEAMERICAN MYO traded up $0.09 during trading hours on Tuesday, hitting $4.99. 291,475 shares of the stock were exchanged, compared to its average volume of 329,528. The company has a market cap of $150.95 million, a P/E ratio of -21.30 and a beta of 1.56. Myomo has a one year low of $1.85 and a one year high of $5.64.

Myomo (NYSEAMERICAN:MYO - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Myomo had a negative return on equity of 85.07% and a negative net margin of 33.22%. The business had revenue of $9.21 million during the quarter, compared to analysts' expectations of $7.95 million. Equities research analysts forecast that Myomo will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vontobel Holding Ltd. acquired a new stake in Myomo in the 3rd quarter worth about $90,000. Bailard Inc. acquired a new stake in shares of Myomo during the second quarter worth $109,000. Accel Wealth Management increased its holdings in shares of Myomo by 6.0% during the 2nd quarter. Accel Wealth Management now owns 43,882 shares of the company's stock valued at $141,000 after acquiring an additional 2,500 shares during the last quarter. AlphaCentric Advisors LLC bought a new position in Myomo in the 3rd quarter valued at $200,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Myomo by 60.8% in the third quarter. GSA Capital Partners LLP now owns 103,342 shares of the company's stock valued at $414,000 after purchasing an additional 39,085 shares in the last quarter. Institutional investors and hedge funds own 44.99% of the company's stock.

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.