SeeThruEquity recently updated its coverage and price target of $1.65 on Nephros (OTCQB: NEPH) common stock. In its financial results for the three months and full-year ended December 31, 2016, Nephros reported full-year revenue growth of 19% to $2.3 million, among other financial highlights of the year. Product updates include receiving 510(k) clearance for new 10″ filters for HydraGuard™ for infection control and EndoPur™ for hemodialysis. The company plans to launch the product in the second quarter of 2017. Nephros said it expects to grow product revenues by 100% in 2017 and set a goal of reaching cash flow breakeven by mid-2017. “We view Nephros as an intriguing high risk / high reward investment opportunity in the medical instruments industry with several potential catalysts in 2017 stemming from growth from new product launches and guidance for reaching cash flow breakeven in the next six months,” writes SeeThruEquity.
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About Nephros, Inc.
Nephros is a commercial stage medical device company that develops and sells high performance liquid purification filters, as well as a hemodiafiltration system for the treatment of patients with End Stage Renal Disease. Its filters, which it calls ultrafilters, are used primarily in medical applications. Nephros ultrafilters are used by dialysis centers for the removal of biological contaminants from the water and bicarbonate concentrate feeding hemodialysis devices. Additionally, Nephros ultrafilters are used in hospitals and medical clinics as an aid in infection control by retaining bacteria (i.e. Legionella, Pseudomonas), virus and endotoxin from water used by patients. For more information, visit www.nephros.com
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