In a report released yesterday, Anthony Vendetti from Maxim Group maintained a Buy rating on Myomo (MYO – Research Report), with a price target of $2.00. The company’s shares closed yesterday at $0.64.
Vendetti covers the Healthcare sector, focusing on stocks such as Biolase, ReShape Lifesciences, and Icecure Medical. According to TipRanks, Vendetti has an average return of -2.3% and a 32.87% success rate on recommended stocks.
Myomo has an analyst consensus of Strong Buy, with a price target consensus of $5.00.
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Based on Myomo’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.45 million and a GAAP net loss of $2.64 million. In comparison, last year the company earned a revenue of $3.87 million and had a GAAP net loss of $2.81 million
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MYO in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Myomo, Inc. is a medical robotics company, which offers expanded mobility for those suffering from neurological disorders and upper-limb paralysis. It offers MyoPro, which is a myoelectric elbow, wrist, and hand orthosis that supports an impaired hand and arm while also enabling it to move again. The company was founded by Stephen Kelly, John McBean, Mira Sahney, and Kailas N. Narendran on September 1, 2004 and is headquartered in Cambridge, MA.
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