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

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

Other equities research analysts have also recently issued research reports about the stock. 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. Ascendiant Capital Markets lifted their price objective on shares of Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday.

Myomo Trading Up 2.3 %

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 capitalization of $146.11 million, a P/E ratio of -20.43 and a beta of 1.56.

Myomo (NYSEAMERICAN:MYO) last posted its 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. The company had revenue of $9.21 million for the quarter, compared to the consensus estimate of $7.95 million. Myomo had a negative return on equity of 86.30% and a negative net margin of 33.22%. As a group, equities analysts expect that Myomo will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Myomo

Several institutional investors and hedge funds have recently bought and sold shares of the company. Stonepine Capital Management LLC acquired a new stake in Myomo in the third quarter valued at approximately $401,000. GSA Capital Partners LLP raised its position in 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 during the last quarter. Rosalind Advisors Inc. boosted its stake in shares of Myomo by 13.4% during the third quarter. Rosalind Advisors Inc. now owns 3,021,391 shares of the company’s stock valued at $12,116,000 after purchasing an additional 356,392 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Myomo in the third quarter valued at approximately $200,000. Finally, Vontobel Holding Ltd. acquired a new stake in Myomo during the 3rd quarter worth approximately $90,000. 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.