Colliers Securities Reaffirms Their Buy Rating on Myomo (MYO)

In a report released today, Kyle Bauser from Colliers Securities reiterated a Buy rating on Myomo (MYOResearch Report), with a price target of $17.00. The company’s shares closed last Wednesday at $12.32.

According to TipRanks.com, Bauser is a 4-star analyst with an average return of 15.4% and a 58.4% success rate. Bauser covers the Healthcare sector, focusing on stocks such as Chembio Diagnostics, Senseonics Holdings, and Semler Scientific.

Currently, the analyst consensus on Myomo is a Moderate Buy with an average price target of $17.00.

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Based on Myomo’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.1 million and GAAP net loss of $2.62 million. In comparison, last year the company earned revenue of $858.6K and had a GAAP net loss of $3.29 million.

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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.