Myomo (NYSEAMERICAN:MYO) Price Target Raised to $9.00 at Ascendiant Capital Markets

Myomo (NYSEAMERICAN:MYO) had its price target upped by Ascendiant Capital Markets from $8.50 to $9.00 in a research note issued to investors on Tuesday,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

MYO has been the subject of a number of other research reports. Craig Hallum initiated coverage on Myomo in a report on Wednesday, July 31st. They set a “buy” rating and a $7.00 target price for the company. HC Wainwright raised their price target on shares of Myomo from $6.50 to $7.50 and gave the stock a “buy” rating in a research report on Monday, August 12th.

Myomo Trading Down 3.9 %

Shares of MYO opened at $4.66 on Tuesday. The stock has a market capitalization of $140.97 million, a P/E ratio of -20.17 and a beta of 1.56. Myomo has a 52 week low of $2.51 and a 52 week high of $5.64.

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%. Equities analysts expect that Myomo will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Barclays PLC acquired a new stake in Myomo during the third quarter worth about $36,000. Jane Street Group LLC acquired a new position in shares of Myomo in the 3rd quarter valued at approximately $65,000. Vontobel Holding Ltd. bought a new stake in shares of Myomo during the 3rd quarter worth approximately $90,000. Bailard Inc. acquired a new stake in shares of Myomo during the 2nd quarter worth approximately $109,000. Finally, Accel Wealth Management increased its stake in 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 acquiring an additional 2,500 shares during the last quarter. Institutional investors own 44.99% of the company’s stock.

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.