Myomo (NYSEAMERICAN:MYO) Rating Increased to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Myomo (NYSEAMERICAN:MYO) from a hold rating to a buy rating in a research report released on Saturday morning, Zacks.com reports. They currently have $5.75 target price on the stock.

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. “

A number of other brokerages also recently weighed in on MYO. Roth Capital upgraded shares of Myomo from a neutral rating to a buy rating and upped their price objective for the stock from $5.00 to $7.00 in a research report on Wednesday, November 11th. Colliers Securities upped their price target on shares of Myomo from $7.00 to $8.00 and gave the stock a buy rating in a research report on Wednesday, September 16th. Five analysts have rated the stock with a buy rating, The company has an average rating of Buy and a consensus price target of $8.85.

NYSEAMERICAN MYO opened at $5.32 on Friday. Myomo has a 1 year low of $2.82 and a 1 year high of $40.00.

Myomo (NYSEAMERICAN:MYO) last posted its earnings results on Tuesday, November 10th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.35. The business had revenue of $1.93 million for the quarter, compared to analyst estimates of $1.19 million.

A hedge fund recently raised its stake in Myomo stock. Fifth Third Bancorp increased its position in Myomo, Inc. (NYSEAMERICAN:MYO) by 100.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,000 shares of the company’s stock after buying an additional 6,000 shares during the period. Fifth Third Bancorp owned about 0.43% of Myomo worth $44,000 as of its most recent SEC filing.

About Myomo

Myomo, Inc, a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States. The company offers MyoPro, a myoelectric-controlled upper limb brace orthosis product used for supporting a patient's weak or paralyzed arm to enable and enhance functional activities of daily living, ADLs, in the home and community.

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