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Fly News Breaks for August 30, 2019
MYO
Aug 30, 2019 | 08:29 EDT
Roth Capital analyst Scott Henry maintained a Buy rating on Myomo shares, but lowered his price target on shares to $1.75 from $2.75 following the company's Q2 earnings results. The analyst sees the key takeaways of the quarter being the revenue shortfall due to lower placements and pricing, the continued growth of the reimbursement pipeline, and that the ability to increase customer conversion rates could heighten the launch curve. The analyst lowered his price target due to increased financial risk, as well as lower revenue forecasts, but maintained a Buy rating for speculative investors.