Highlights From Canaccord Genuity Cardiovascular, Aesthetics & Metabolic Disorders Conference Part I
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Price: $15.75 -0.44%
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Highlights From Canaccord Genuity Cardiovascular, Aesthetics & Metabolic Disorders Conference by Jason Mills
AngioDyanmics (NASDAQ: ANGO) (Reiterate BUY) - FQ1 exceeded our expectations, kicking off the tenure of Joe DeVivo. We believe investors should aggressively accumulate ANGO shares at current levels, owing to a very favorable risk/reward value proposition, in our view. Mr. DeVivo offered his initial vision for the company, conveying a clear understanding of the key issues and important tenets to set ANGO on an upward growth trajectory again. Based on a review of his experience and our due diligence, we have confidence Mr. DeVivo will unlock tremendous shareholder value at ANGO.
AtriCure (NASDAQ: ATRC) (Reiterate BUY) - Management is very confident FDA will grant clearance for the Synergy ablation system with the atrial fibrillation labeling during Q1/12. We continue to model conservatively, as our model assumes contribution beginning mid-year 2012...With respect to AtriClip, the company sees opportunity to drive additional growth going forward via potential bundling with Synergy for hospitals that commit to higher volume.
Derma Sciences (NASDAQ: DSCI) (Reiterate BUY) - Management projects that Advanced Wound Care (AWC) products will grow 30% to 45% per year going forward...The company is preparing for its Phase II follow-up and Phase III trial planning meetings with the FDA for its DSC127 in the Q1/12. We anticipate the Phase 3 pivotal clinical trials will be conducted in 2012-2013, with an eventual NDA submission and FDA decision coming in 2015 and 2016, respectively.
DexCom (NASDAQ: DXCM) (Reiterate BUY) - DexCom is on track with previous expectations and currently enrolling patients in its pivotal trial for the Gen4 sensor; it expects to finish enrollment toward the end of Q1/12, with a full submission shortly thereafter. We anticipate approval in the late H2/12 to H1/13, with commercialization in the H2/13...Upon full commercialization of partnership projects with Insulet, Roche, and Animas, DexCom will have over 1000 sales representatives pushing DexCom technology. Insulet (Nasdaq: PODD) and Animas’ products will both utilize the Gen4 sensor and are expected to launch in 2013. Roche will utilize the company’s Gen5 sensor and is expected to launch in 2014.
EnteroMedics (NASDAQ: ETRM) (Reiterate BUY) - EnteroMedics is the leader in neuroblocking therapies for metabolic disease, including diabetes and obesity...Management noted that fewer than 2% of eligible patients are currently seeking bariatric surgery...ETRM received CE mark for its next generation Maestro RC device in the Q1/11. The device is currently being reviewed by the Australian regulatory body (TGA) and while approval could come in the Q4/11, we are modeling for approval and commercialization in the Q1/12...The company has a strong balance sheet with over ~$35M in cash.
AngioDyanmics (NASDAQ: ANGO) (Reiterate BUY) - FQ1 exceeded our expectations, kicking off the tenure of Joe DeVivo. We believe investors should aggressively accumulate ANGO shares at current levels, owing to a very favorable risk/reward value proposition, in our view. Mr. DeVivo offered his initial vision for the company, conveying a clear understanding of the key issues and important tenets to set ANGO on an upward growth trajectory again. Based on a review of his experience and our due diligence, we have confidence Mr. DeVivo will unlock tremendous shareholder value at ANGO.
AtriCure (NASDAQ: ATRC) (Reiterate BUY) - Management is very confident FDA will grant clearance for the Synergy ablation system with the atrial fibrillation labeling during Q1/12. We continue to model conservatively, as our model assumes contribution beginning mid-year 2012...With respect to AtriClip, the company sees opportunity to drive additional growth going forward via potential bundling with Synergy for hospitals that commit to higher volume.
Derma Sciences (NASDAQ: DSCI) (Reiterate BUY) - Management projects that Advanced Wound Care (AWC) products will grow 30% to 45% per year going forward...The company is preparing for its Phase II follow-up and Phase III trial planning meetings with the FDA for its DSC127 in the Q1/12. We anticipate the Phase 3 pivotal clinical trials will be conducted in 2012-2013, with an eventual NDA submission and FDA decision coming in 2015 and 2016, respectively.
DexCom (NASDAQ: DXCM) (Reiterate BUY) - DexCom is on track with previous expectations and currently enrolling patients in its pivotal trial for the Gen4 sensor; it expects to finish enrollment toward the end of Q1/12, with a full submission shortly thereafter. We anticipate approval in the late H2/12 to H1/13, with commercialization in the H2/13...Upon full commercialization of partnership projects with Insulet, Roche, and Animas, DexCom will have over 1000 sales representatives pushing DexCom technology. Insulet (Nasdaq: PODD) and Animas’ products will both utilize the Gen4 sensor and are expected to launch in 2013. Roche will utilize the company’s Gen5 sensor and is expected to launch in 2014.
EnteroMedics (NASDAQ: ETRM) (Reiterate BUY) - EnteroMedics is the leader in neuroblocking therapies for metabolic disease, including diabetes and obesity...Management noted that fewer than 2% of eligible patients are currently seeking bariatric surgery...ETRM received CE mark for its next generation Maestro RC device in the Q1/11. The device is currently being reviewed by the Australian regulatory body (TGA) and while approval could come in the Q4/11, we are modeling for approval and commercialization in the Q1/12...The company has a strong balance sheet with over ~$35M in cash.
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