Myomo (NYSEAMERICAN:MYO) Price Target Raised to $9.50 at HC Wainwright

Myomo (NYSEAMERICAN:MYO) had its price objective hoisted by investment analysts at HC Wainwright from $7.50 to $9.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 61.84% from the company’s previous close.

MYO has been the subject of several other reports. Ascendiant Capital Markets upped their price objective on Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Craig Hallum upped their price target on Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday.

Myomo Trading Up 40.8 %

MYO opened at $5.87 on Wednesday. Myomo has a 12-month low of $2.51 and a 12-month high of $7.17. The company has a market capitalization of $177.57 million, a P/E ratio of -25.52 and a beta of 1.68.

Institutional Trading of Myomo

A number of hedge funds have recently bought and sold shares of the stock. Barclays PLC acquired a new stake in Myomo during the 3rd quarter worth about $36,000. BNP Paribas Financial Markets acquired a new position in shares of Myomo during the 4th quarter worth about $64,000. Walleye Capital LLC purchased a new position in shares of Myomo in the fourth quarter valued at approximately $66,000. Squarepoint Ops LLC acquired a new stake in Myomo during the 4th quarter worth $74,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Myomo during the 4th quarter valued at about $95,000. Hedge funds and other 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.