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Nxstage Medical, Inc. Message Board

  • stockspook_we stockspook_we Nov 2, 2006 9:10 AM Flag

    Upgrade today....

    Thomas Weisel Partners Ups Nxstage Medical Inc. To Outperform From Peer Perform With $12 Price Target

    Thu Nov 02 07:47:00 2006 EST
    (RTTNews) - Thomas Weisel Partners Ups Nxstage Medical Inc. (NXTM) To Outperform From Peer Perform
    With $12 Price Target

    Copyright(c) 2006, Inc. All Rights Reserved

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    • We Upgrade Nxstage Medical; Believe Long-term Franchise Potential Not Reflected At This Price - Thomas Weisel Comments

      Thu Nov 02 13:26:00 2006 EST
      (RTTNews) - Thursday, Thomas Weisel upgraded Nxstage Medical, Inc. (NXTM) shares to Outperform from
      Peer Perform with a price target of $12. The brokerage maintains its 2006 loss per share estimate of
      $1.59, and its 2007 loss estimate of $1.15.

      Analyst Robert Faulkner said that the rating change made because he believes the long-term franchise
      potential of NxStage is not reflected at this price. Today, the analyst said that NxStage presents an
      early-stage leadership franchise at a compelling valuation. At $7.65, the analyst believes the stock
      trades at a 2008 EV/Sales of 1.4x on consensus estimates vs. comparables at 3.4x, and including cash,
      NXTM is at 2.8x 2008 sales.

      The analyst believes that the stocks of businesses that are first to a large protectable market are
      more likely to outperform over time. The analyst noted that NxStage system significantly improves dialysis
      patient outcomes while improving economics for dialysis clinics.

      At $7.65, based on the analyst's multiple of sales analysis, NXTM imputes an assumption, he estimates,
      that for the next two years just 287 patients per quarter will be added, when 237 were added last quarter.
      The analyst expects 387 per quarter on average.

      While this stock has taken more patience than the analyst would have liked, many major business execution
      risks are now behind him. The analyst said that the system functions well in almost 1000 patients, patients
      like it, clinics are adopting it, 11 of the top 12 chains use it, margin improvement is visible with
      the rollout of PureFlow SL underway, and manufacturing is making enough product.

      Currently, the stock is up $0.31 and trading at $7.96.

      Copyright(c) 2006, Inc. All Rights Reserved


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