Myomo price target raised to $6.65 from $4.60 at Alliance Global Partners

Alliance Global Partners raised the firm’s price target on Myomo to $6.65 from $4.60 and keeps a Buy rating on the shares after Myomo announced Q4 results essentially in line with the firm’s model. The increased target reflects rolling its valuation multiple onto its newly-introduced 2025 estimates, says the firm, which sees the recent CMS developments as “transformational” and “sufficient to carry the company to profitability on their existing cash.”