+ Watch NURO
on My Watchlist
The Company designs, develops and sells proprietary medical devices used to help physicians diagnose neuropathies and neurovascular disease.
3rd trip to the well. May be one trip too many! Speculative. Believe Insurance Coverage issue may be over emphasized. At 52-week low. Look for new product announcements 1H 07. Analysts still project 35% 5-year growth rate. That may be pie in the sky ... but may be indicative of market sentiment.
Realize that this stock is quite speculative, is probably not worth my time following it (nothing excites my imagination). However, it has been instructive as a trading stub ... and I still think this is a typical problem -- especially with bureaucrats -- and that there are reasonable chances of resolution to NURO's advantage. Cut and Paste: Tuesday January 9, 3:53 pm ET NeuroMetrix Shares Rebound From Year Low As Analysts Say Company May Appeal Negative Decision NEW YORK (AP) -- Shares of neurological diagnostic toolmaker NeuroMetrix Inc. hit a new 52-week low on Tuesday, but later surged after analysts suggested Neurometrix might appeal a recent decision by California's Medicare carrier not to cover one of the company's devices.National Heritage Insurance Corp. on Friday refused to cover NC-stat, a NeuroMetrix device that allows doctors to test back and nerve pain. On Tuesday, analysts wondered if the policy would be changed.National Heritage said that surface electrodes, like those used by the NC-stat, are not discriminating enough. In a research note Tuesday, Piper Jaffray & Co. analyst William Quirk said NeuroMetrix was likely to challenge that decision, as it was not supported by clinical data."In our opinion, recent reimbursement decisions by NHIC and others appear to have been influenced by the neurologist lobby and are not reflective of peer-reviewed literature," Quirk wrote. He said he expects Waltham, Mass.-based NeuroMetrix to appeal NHIC's decision if it hurts NeuroMetrix's reimbursement rates.Quirk held the stock's rating at "Outperform."Analyst Juan Sanchez of Punk Ziegel & Co. noted that NHIC removed references to NC-stat from the final version of its report, and that technicians are still allowed to use electrodiagnostic tests. The NHIC's policy does not prevent doctors or physicians from using NC-stat, he said. Sanchez kept his rating for NeuroMetrix at "Accumulate."Sanchez predicted the stock will be "very profitable" in the long run, although it will be shaky for six to nine months as NeuroMetrix begins appealing the decision.
BUSTED. Cleaning up after 2 year hiatus from CAPS.
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