Myomo (NYSEAMERICAN:MYO) PT Raised to $7.50

Myomo (NYSEAMERICAN:MYO) had its price target hoisted by research analysts at HC Wainwright from $6.50 to $7.50 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 95.82% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Lake Street Capital upped their price target on Myomo from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Craig Hallum started coverage on Myomo in a report on Wednesday, July 31st. They set a “buy” rating and a $7.00 price objective for the company.

Myomo Stock Down 0.8 %

NYSEAMERICAN MYO opened at $3.83 on Monday. The company has a market cap of $110.38 million, a P/E ratio of -14.18 and a beta of 1.56. Myomo has a one year low of $0.50 and a one year high of $5.64.

Myomo (NYSEAMERICAN:MYO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.04. Myomo had a negative net margin of 47.77% and a negative return on equity of 94.02%. The company had revenue of $7.52 million during the quarter, compared to the consensus estimate of $7.30 million. As a group, research analysts predict that Myomo will post -0.18 EPS for the current fiscal year.

Insider Transactions at Myomo

In other Myomo news, Director Thomas F. Kirk purchased 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average cost of $3.50 per share, with a total value of $175,000.00. Following the completion of the transaction, the director now owns 236,499 shares of the company’s stock, valued at approximately $827,746.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.54% of the company’s stock.

Hedge Funds Weigh In On Myomo

Several institutional investors have recently added to or reduced their stakes in the stock. Accel Wealth Management grew its position in Myomo by 6.0% during the second quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock valued at $141,000 after buying an additional 2,500 shares during the period. Tower Research Capital LLC TRC grew its stake in Myomo by 178.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,257 shares of the company’s stock valued at $46,000 after buying an additional 5,932 shares in the last quarter. Summit Financial Strategies Inc. purchased a new position in Myomo in the 4th quarter valued at approximately $50,000. PFG Advisors raised its holdings in Myomo by 74.8% during the 1st quarter. PFG Advisors now owns 46,760 shares of the company’s stock valued at $153,000 after acquiring an additional 20,016 shares during the period. Finally, Stratos Wealth Partners LTD. bought a new position in shares of Myomo in the fourth quarter worth $125,000. Institutional investors 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.