Myomo (NYSEAMERICAN:MYO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The firm currently has a $1.25 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 4.17% from the stock’s previous close.

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, Roth Capital reiterated a “buy” rating on shares of Myomo in a report on Tuesday, February 5th.

MYO opened at $1.20 on Wednesday. Myomo has a 52-week low of $1.15 and a 52-week high of $4.30.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.01. The business had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $0.70 million.

A hedge fund recently raised its stake in Myomo stock. Bank of New York Mellon Corp boosted its holdings in shares of Myomo Inc (NYSEAMERICAN:MYO) by 87.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,925 shares of the company’s stock after buying an additional 21,925 shares during the period. Bank of New York Mellon Corp owned approximately 0.38% of Myomo worth $68,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About Myomo

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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