Myomo (NYSEAMERICAN:MYO) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Myomo (NYSEAMERICAN:MYO) from a hold rating to a buy rating in a research report released on Friday morning, Zacks.com reports. The brokerage currently has $0.75 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. “

Separately, Ascendiant Capital Markets started coverage on shares of Myomo in a research note on Tuesday, July 30th. They set a buy rating and a $2.00 price objective for the company.

Shares of NYSEAMERICAN:MYO traded down $0.04 during midday trading on Friday, hitting $0.67. 38,300 shares of the stock traded hands, compared to its average volume of 79,516. Myomo has a one year low of $0.61 and a one year high of $2.69.

Myomo (NYSEAMERICAN:MYO) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.02. The firm had revenue of $0.88 million for the quarter, compared to the consensus estimate of $1.09 million.

A hedge fund recently raised its stake in Myomo stock. Jane Street Group LLC lifted its stake in shares of Myomo Inc (NYSEAMERICAN:MYO) by 35.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,751 shares of the company’s stock after buying an additional 29,281 shares during the quarter. Jane Street Group LLC owned about 0.66% of Myomo worth $79,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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 or orthosis used for the purpose of supporting a patient's weak or deformed arm to enable and improve functional activities of daily living, ADLs, in the home and community.

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