Myomo (NYSEAMERICAN:MYO) Stock Price Expected to Rise, Ascendiant Capital Markets Analyst Says

Myomo (NYSEAMERICAN:MYO) had its target price hoisted by research analysts at Ascendiant Capital Markets from $8.50 to $9.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Ascendiant Capital Markets’ price target would suggest a potential upside of 89.47% from the stock’s current price.

A number of other research firms have also commented on MYO. HC Wainwright boosted their price target on shares of Myomo from $6.50 to $7.50 and gave the company a “buy” rating in a research report on Monday, August 12th. Craig Hallum began coverage on shares of Myomo in a research report on Wednesday, July 31st. They issued a “buy” rating and a $7.00 target price for the company.

Myomo Trading Down 4.8 %

NYSEAMERICAN:MYO opened at $4.75 on Tuesday. The company has a market capitalization of $143.69 million, a P/E ratio of -21.00 and a beta of 1.56. Myomo has a 12 month low of $2.25 and a 12 month high of $5.64.

Myomo (NYSEAMERICAN:MYO) last issued its earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Myomo had a negative net margin of 33.22% and a negative return on equity of 86.30%. The business had revenue of $9.21 million for the quarter, compared to analysts’ expectations of $7.95 million. As a group, sell-side analysts expect that Myomo will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Myomo

Institutional investors have recently bought and sold shares of the stock. Herr Investment Group LLC grew its holdings in Myomo by 72.9% in 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. grew its holdings in Myomo by 13.4% in the third quarter. Rosalind Advisors Inc. now owns 3,021,391 shares of the company’s stock worth $12,116,000 after purchasing an additional 356,392 shares during the period. Essex Investment Management Co. LLC grew its holdings in Myomo by 40.2% in the third quarter. Essex Investment Management Co. LLC now owns 899,135 shares of the company’s stock worth $3,606,000 after purchasing an additional 257,749 shares during the period. AIGH Capital Management LLC grew its holdings in 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 purchasing an additional 115,405 shares during the period. Finally, AlphaCentric Advisors LLC purchased a new stake in Myomo in the third quarter worth about $200,000. 44.99% of the stock is owned by institutional investors.

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.