Ascendiant Capital Starts PhotoMedex (PHMD) at Buy; Market Growing; Attractive Valuation
Get Alerts PHMD Hot Sheet
Price: $1.07 --0%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 3
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 3
Join SI Premium – FREE
Ascendiant Capital initiates coverage on PhotoMedex (NASDAQ: PHMD) with a Buy. PT $18.50.
Analyst, Keay Nakae, said, "We believe that the December 2011 merger with the privately held Radiancy, has resulted in PhotoMedex becoming a much stronger company. The former PhotoMedex struggled to gain traction with its XTRAC laser therapy, used to treat inflammatory skin disease, and therefore struggled to achieve profitability. Thus, PHMD was an underperforming stock. The new PhotoMedex is now on track to generate over $150 MM in annual revenue, is solidly profitable, has essentially no debt, and is capable of generating meaningful free cash flow. We believe that the Company is well positioned to achieve faster revenue growth than its competitors and thus represents one of the more attractive investments in this segment."
For an analyst ratings summary and ratings history on PhotoMedex click here. For more ratings news on PhotoMedex click here.
Shares of PhotoMedex closed at $16.34 yesterday.
Analyst, Keay Nakae, said, "We believe that the December 2011 merger with the privately held Radiancy, has resulted in PhotoMedex becoming a much stronger company. The former PhotoMedex struggled to gain traction with its XTRAC laser therapy, used to treat inflammatory skin disease, and therefore struggled to achieve profitability. Thus, PHMD was an underperforming stock. The new PhotoMedex is now on track to generate over $150 MM in annual revenue, is solidly profitable, has essentially no debt, and is capable of generating meaningful free cash flow. We believe that the Company is well positioned to achieve faster revenue growth than its competitors and thus represents one of the more attractive investments in this segment."
For an analyst ratings summary and ratings history on PhotoMedex click here. For more ratings news on PhotoMedex click here.
Shares of PhotoMedex closed at $16.34 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Upgrades UDR, Inc. (UDR) to Buy
- Craig-Hallum Assumes DiaMedica Therapeutics Inc. (DMAC) at Buy
- JPMorgan Starts IDFC First Bank Ltd (IDFCFB:IN) at Neutral
Create E-mail Alert Related Categories
New CoverageSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!