Canaccord Genuity Believes NXTM Won’t Stop Here

By Jason Carr

Canaccord Genuity analyst Kyle Rose reiterated a Buy rating on NxStage Medical (NASDAQ: NXTM) today and set a price target of $28. The company’s shares opened today at $23.99, close to its 52-week high of $26.07.

According to TipRanks.com, Rose is ranked 0 out of 5 stars with an average return of -11.3% and a 23.1% success rate. Rose covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Zimmer Biomet Holdings, and Enteromedics Inc.

Currently, the analyst consensus on NxStage Medical is Strong Buy and the average price target is $28, representing a 16.7% upside.

In a report issued on October 31, BTIG also reiterated a Buy rating on the stock with a $29 price target.

The company has a one year high of $26.07 and a one year low of $13.49. Currently, NxStage Medical has an average volume of 447.4K.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is neutral on the stock. Most recently, in September 2016, Craig Moore, a Director at NXTM sold 3,000 shares for a total of $69,930.

NxStage Medical, Inc. operates as a medical device company which manufactures and markets products for the treatment of kidney failure, fluid overload and related blood treatments and procedures. Its primary product, the NxStage System One, was designed to satisfy an unmet clinical need for a system that can deliver the therapeutic flexibility and clinical benefits associated with traditional dialysis machines in a smaller, portable, easy to use form that can be used by healthcare professionals and trained lay users alike in a variety of settings, including patient homes, as well as more traditional care settings such as hospitals and dialysis clinics. The company also markets its product NxStage System One to hospitals for treatment of acute kidney failure and fluid overload. The company operates through the following segments: System One, In-Center and Services. The System One segment engages in the sale and rental of the System One and PureFlow SL equipment and the sale of disposable products in the home and critical care markets. The In-Center segment sells blood tubing sets and needles for hemodialysis primarily for the treatment of ESRD patients at dialysis centers and needles for apheresis. The Services segment includes revenues from dialysis services provided to patients at its recently opened NxStage Kidney Care dialysis centers. NxStage Medical was founded by Jeffrey H. Burbank in December 1998 and is headquartered in Lawrence, MA.