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Physiometrix Rated Speculative Buy in Initiating Coverage by Dutton & Associates
Tuesday March 9, 12:00 pm ET
EL DORADO HILLS, CA--(MARKET WIRE)--Mar 9, 2004 -- JM Dutton & Associates initiated coverage of Physiometrix (NasdaqSC:PHYX - News) with a Speculative Buy rating with a $4.50 price target. The 10-page report by JM Dutton senior analyst William Prather, R.Ph, M.D. is available at www.jmdutton.com as well as from Bloomberg, First Call, Zacks, Multex, and other leading financial portals.
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We consider Physiometrix to be a turnaround situation that, if successful, could provide significant upside to the value of the common stock. Physiometrix's Patient State Analyzer is a product with state-of-the-art technology in aiding the clinician obtain a real-time picture of the anesthetized or sedated patient's level of consciousness. We believe Physiometrix's technology is superior to the Bispectral Index (BIS) technology of their major competitor, Aspect Medical. However, we believe the strength of Physiometrix's revenues (and market value) are dependent upon the success of their marketing and distribution partner, Baxter Healthcare Corporation. We view the Baxter relationship as a significant risk to Physiometrix's valuation, and currently believe an investment should be considered only by risk-tolerant, speculative investors. However, if this relationship is successful, Physiometrix's market value could easily double over the next 12 months.
About Dutton & Associates
Dutton & Associates is one of the largest independent investment research firms in the U.S. Its 24 senior analysts are primarily CFAs, have expertise in many industries. Dutton & Associates provides continuing analyst coverage of over 65 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.
The cost of enrolment in our one-year continuing research program is US $28,000 prepaid before commencement of our research activities. We received $28,000 from the Company for coverage for the year, and do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
Contact:
Contacts:
J.M. Dutton & Associates
John M. Dutton
916/941-4985
Physiometrix
John Williams
978/670-2422
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