Myomo initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Myomo with a Buy rating and $6.50 price target. Myomo develops and markets MyoPro, a robotic arm orthosis for patients with chronic upper body disability caused by stroke, traumatic brain injury, or a spinal cord injury, the analyst tells investors in a research note. The firm expects the company to achieve “significant” sales growth in the coming years and project total revenue to grow from $20M in 2023 to $93M by 2030.