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Sunday, June 12, 2005

Analysis: NeuroMetrix Inc (NURO)

NeuroMetrix Inc (NURO) is a medical device company, engages in the design, development, and sale of products used to diagnose neuropathies.

NeuroMetrix (NURO) is a late IPO, which came public less than a year ago at $8. The shares closed Friday at $16.04, so it has performed very well since the public offering.

The Company’s flagship product, the NC-stat® is a nerve conduction-testing platform that has been on the market since 2000. The NC-stat is used by orthopedic surgeons, neurologists, physiatrists, rheumatologists, internal medicine physicians, occupational health physicians, pain medicine physicians, general practitioners, and others, to assist in the diagnosis or exclusion of peripheral nerve disorders.

NeuroMetrix announced strategic relationship with Eli Lilly (LLY) to increase awareness and understanding of diabetic peripheral neuropathy, this should improve the sales of NeuroMetrix' products.

NC-stat System is used in 2.400 health care facilities, which is a tiny number according to analysts, because there are tens of millions annual visits related to nerve pathology.

According to Yahoo Finance, analysts estimate earnings of $-0.06 for the current quarter and $-0.17 for the year. For next year, the average estimate is $0.19. For year 2007 $0.70 (according to Ivestor's Business Daily). The revenue is growing solidly throughout the years.

Stock Chart: NeuroMetrix Inc (NURO)
Chart courtesy of StockCharts.com.

NeuroMetrix shares have raised from $9.12 to $16.04 (+75.9%) in 2 months, so it might be overbought at the moment and it is wise to wait some correction before buying. But if the shares should brake the all time high at $17.50, it's also good point to go long.

Tomorrow's (Monday, June 13, 2005) Investor's Business Daily covers a write-up about NeuroMetrix, which may give a little boost to NURO shares.

It’s A Test Of Nerves For Market
Investor's Business Daily
by Amy Reeves
June 13, 2005
In addition to ease of use, the NCStat offers a notable advantage in cost. Traditional nerve conduction machines cost $40,000 to $70,000. NC-Stats go for $4,000 a piece.

NC-Stat’s sales are still ramping up, so NeuroMetrix has yet to turn a profit. Analysts /---/ see 2007 earnings hitting 70 cents.

Despite the small installed base, NeuroMetrix makes a lot from disposable sensors for each test. In the first quarter, 88% of the firm’s revenue came from those sensors.

Analysts see plenty of room for growth in its current markets.
Read further:
Investor's Business Daily: It’s A Test Of Nerves For Market (paid subscription required)

See also:
Yahoo Finance: Profile for NeuroMetrix
NeuroMetrix: About the Company

4 Comments:

Blogger Michael said...

an interesting stock and it should get some action from the IBDers. I'll be sure to watch it this week.

6/12/2005 11:48:00 AM  
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