HC Wainwright Forecasts Strong Price Appreciation for Myomo (NYSEAMERICAN:MYO) Stock

Myomo (NYSEAMERICAN:MYO) had its price target boosted by equities researchers at HC Wainwright from $7.50 to $9.50 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 61.84% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Ascendiant Capital Markets increased their price objective on Myomo from $8.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Craig Hallum upped their price target on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday.

Myomo Trading Up 40.8 %

Shares of NYSEAMERICAN MYO opened at $5.87 on Wednesday. The stock has a market capitalization of $177.57 million, a P/E ratio of -25.52 and a beta of 1.68. Myomo has a fifty-two week low of $2.51 and a fifty-two week high of $7.17.

Hedge Funds Weigh In On Myomo

A number of hedge funds have recently modified their holdings of the company. Barclays PLC purchased a new position in shares of Myomo in the 3rd quarter worth about $36,000. BNP Paribas Financial Markets purchased a new stake in shares of Myomo during the fourth quarter valued at approximately $64,000. Jane Street Group LLC bought a new stake in shares of Myomo during the third quarter valued at approximately $65,000. Walleye Capital LLC bought a new stake in shares of Myomo during the fourth quarter valued at approximately $66,000. Finally, Squarepoint Ops LLC bought a new position in Myomo in the 4th quarter valued at approximately $74,000. 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.