Craig Hallum Forecasts Strong Price Appreciation for Myomo (NYSEAMERICAN:MYO) Stock

Myomo (NYSEAMERICAN:MYO) had its target price boosted by Craig Hallum from $7.00 to $9.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on MYO. HC Wainwright reaffirmed a “buy” rating and set a $7.50 price target on shares of Myomo in a report on Wednesday, November 13th. Ascendiant Capital Markets boosted their price target on Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th.

Myomo Price Performance

Shares of NYSEAMERICAN MYO opened at $6.26 on Friday. Myomo has a 12-month low of $2.51 and a 12-month high of $6.74. The company has a market cap of $189.37 million, a P/E ratio of -27.22 and a beta of 1.71.

Myomo (NYSEAMERICAN:MYO) last issued its quarterly earnings data 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 firm had revenue of $9.21 million during the quarter, compared to the consensus estimate of $7.95 million. Equities research analysts anticipate that Myomo will post -0.19 EPS for the current year.

Institutional Investors Weigh In On Myomo

Large investors have recently made changes to their positions in the company. Rosalind Advisors Inc. raised its holdings in shares of Myomo by 13.4% during the 3rd quarter. Rosalind Advisors Inc. now owns 3,021,391 shares of the company’s stock worth $12,116,000 after acquiring an additional 356,392 shares in the last quarter. Herr Investment Group LLC raised its position in shares of Myomo by 72.9% during the 2nd quarter. Herr Investment Group LLC now owns 2,846,071 shares of the company’s stock valued at $9,136,000 after buying an additional 1,200,244 shares in the last quarter. Essex Investment Management Co. LLC lifted 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. Bailard Inc. bought a new stake in Myomo during the second quarter worth approximately $109,000. Finally, GSA Capital Partners LLP increased its position in shares of Myomo by 60.8% during the 3rd 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 during the last quarter. 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.