Myomo (NYSEAMERICAN:MYO) Stock Price Expected to Rise, Craig Hallum Analyst Says

Myomo (NYSEAMERICAN:MYO) had its price objective boosted by analysts at Craig Hallum from $9.00 to $11.00 in a note issued to investors on Tuesday, MarketBeat reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s target price points to a potential upside of 102.58% from the stock’s previous close.

MYO has been the subject of several other research reports. Ascendiant Capital Markets upped their price objective on Myomo from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. HC Wainwright restated a “buy” rating and issued a $7.50 price target on shares of Myomo in a research report on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Myomo currently has an average rating of “Buy” and an average target price of $9.25.

Myomo Stock Down 7.5 %

Shares of MYO opened at $5.43 on Tuesday. The stock has a market capitalization of $164.26 million, a price-to-earnings ratio of -23.61 and a beta of 1.68. Myomo has a 12-month low of $2.51 and a 12-month high of $7.17.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. AIGH Capital Management LLC lifted its stake in shares of Myomo by 21.7% in the 4th quarter. AIGH Capital Management LLC now owns 3,381,567 shares of the company’s stock valued at $21,777,000 after purchasing an additional 602,719 shares during the period. Soleus Capital Management L.P. acquired a new position in Myomo in the fourth quarter valued at approximately $5,796,000. Portolan Capital Management LLC bought a new position in shares of Myomo during the 4th quarter worth approximately $2,446,000. Stonepine Capital Management LLC boosted its holdings in shares of Myomo by 174.4% during the 4th quarter. Stonepine Capital Management LLC now owns 274,426 shares of the company’s stock worth $1,767,000 after buying an additional 174,426 shares in the last quarter. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of Myomo during the 4th quarter worth approximately $1,582,000. 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.