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In a report published Friday, Jefferies & Company reiterated its Buy rating on NxStage Medical
NXTM, but lowered its price target from $21.00 to $16.00.
Jefferies noted, “NXTM posted a decent 3Q. Overall HHD grew 17% but US HHD growth again decelerated (+12%) and will remain in check under the current reimbursement environment. The company outlined an increasing number of pipeline opportunities and while achieving increased reimbursement will take time, the substantial long-term HHD opportunity supports our Buy rating.”
NxStage Medical closed on Thursday at $10.61.
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