Zacks Investment Research upgraded shares of Myomo (NYSEAMERICAN:MYO) from a sell rating to a hold rating in a research note released on Thursday.
According to Zacks, “Myomo, Inc. is a commercial stage medical robotics company. It offers expanded mobility which suffering from neurological disorders and upper limb paralysis. The company develops and markets the MyoPro(R) product line of lightweight, non-invasive, powered arm braces to restore function in the paralyzed or weakened arms and hands of individuals. Myomo, Inc. is headquartered in Cambridge,Massachusetts. “
Other analysts have also recently issued reports about the company. Roth Capital set a $7.00 price objective on Myomo and gave the company a buy rating in a research report on Thursday, May 10th. HC Wainwright set a $12.00 price target on Myomo and gave the stock a buy rating in a research report on Thursday, May 10th.
Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings data on Wednesday, May 9th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). The firm had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.56 million. Myomo had a negative net margin of 257.70% and a negative return on equity of 155.42%.
Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of Myomo in the 4th quarter worth approximately $124,000. Citadel Advisors LLC boosted its position in shares of Myomo by 243.9% in the 1st quarter. Citadel Advisors LLC now owns 40,861 shares of the company’s stock worth $121,000 after purchasing an additional 28,981 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Myomo in the 4th quarter worth approximately $257,000. Hudson Bay Capital Management LP bought a new stake in shares of Myomo in the 4th quarter worth approximately $294,000. Finally, A.R.T. Advisors LLC purchased a new position in Myomo in the 1st quarter worth approximately $277,000.
Myomo Company Profile
Myomo, Inc, a commercial stage medical robotics company, designs, develops, and produces myoelectric braces or orthotics for people suffering with neuromuscular disorders in the United States. It offers MyoPro, a powered upper limb orthosis that supports the arm, as well as restores function to the weakened or paralyzed arms of patients suffering from CVA stroke, brachial plexus injury, traumatic brain injury, spinal cord injury, ALS, or other neuromuscular disease or injury.
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