Craig-Hallum raised the firm’s price target on Myomo (MYO) to $9 from $7 and keeps a Buy rating on the shares. Last week’s capital raise will provide $17.3M in gross proceeds, which will be channeled into the business, with direct incremental investments into advertising spend, manufacturing capacity, and the initial build of the O&P channel, the analyst tells investors in a research note. These investments should have a meaningful effect on growth in 2025 and beyond, the firm says.
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Read More on MYO:
- Myomo 3M share Spot Secondary priced at $5.00
- Myomo announces common stock offering, no amount given
- Myomo, Inc. Reports Record Third Quarter Growth
- Myomo reports Q3 EPS (3c), consensus (4c)
- Myomo sees Q4 revenue $9.5M-$10.5M, consensus $9.8M
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
