Ascendiant Capital Keeps Buy Rating on Myomo, PT Lowered to $10.5

Ascendiant Capital Keeps Buy Rating on Myomo, PT Lowered to $10.5

Ascendiant Capital has maintained its buy rating on Myomo, Inc. (NYSEAM: MYO), despite a recent downward revision in the company's price target to $10.5. The investment research firm cited the company's innovative product line, MyoPro, which offers improved arm and hand function for patients with neurological disorders and upper-limb paralysis Myomo, Inc.(NYSEAM:MYO) dropped from S&P Global BMI Index^[1].

MyoPro, a powered upper-limb orthosis, senses a patient's electromyography (EMG) signals through non-invasive sensors on the arm, restoring function to weakened or paralyzed limbs. This allows patients to perform activities of daily living such as feeding, carrying objects, and doing household tasks. MyoPro is directly sold to patients and billed to their insurance companies, with additional sales through orthotics and prosthetics providers, the veterans' administration, and other channels.

Ascendiant Capital's decision to maintain a buy rating reflects the company's strong market position and potential for growth. However, the price target revision suggests a more conservative outlook on the stock's valuation. Investors should closely monitor Myomo's financial performance and market developments to make informed decisions.