HC Wainwright Reiterates “Buy” Rating for Myomo (NYSEAMERICAN:MYO)

Myomo (NYSEAMERICAN:MYO)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $7.50 price target on the stock. HC Wainwright’s target price suggests a potential upside of 55.28% from the stock’s previous close. HC Wainwright also issued estimates for Myomo’s FY2028 earnings at $0.41 EPS.

Several other research firms also recently issued reports on MYO. Ascendiant Capital Markets upped their price target on Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday. Craig Hallum initiated coverage on shares of Myomo in a report on Wednesday, July 31st. They set a “buy” rating and a $7.00 price target for the company.

Myomo Trading Up 2.3 %

NYSEAMERICAN:MYO opened at $4.83 on Wednesday. Myomo has a 1-year low of $2.51 and a 1-year high of $5.64. The firm has a market cap of $146.11 million, a P/E ratio of -20.43 and a beta of 1.56.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate 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. Equities research analysts predict that Myomo will post -0.17 EPS for the current year.

Institutional Trading of Myomo

A number of large investors have recently bought and sold shares of MYO. Vontobel Holding Ltd. bought a new stake in shares of Myomo during the third quarter worth $90,000. Bailard Inc. bought a new stake in shares of Myomo during the second quarter valued at approximately $109,000. Accel Wealth Management increased its holdings in shares of Myomo by 6.0% in the second quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock valued at $141,000 after purchasing an additional 2,500 shares in the last quarter. AlphaCentric Advisors LLC bought a new position in Myomo in the 3rd quarter worth approximately $200,000. Finally, Stonepine Capital Management LLC acquired a new position in Myomo during the 3rd quarter worth $401,000. 44.99% of the stock is currently owned by institutional investors.

About Myomo

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.