Dutton Associates Announces Investment Opinion: Minrad International Rating Maintained At Strong Buy By Dutton Associates.EL DORADO El Dorado, legendary country of South America El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America. HILLS, Calif. -- Dutton Associates continues coverage of Minrad International (Nasdaq:BUF (BUFfer gate) A logic gate that generates the same output as the input. It is used as a relay to increase power, to add some delay in the circuit and to isolate signals. See logic gate.  ) maintaining a strong buy rating and a price target of $5.85. The 13-page report by Dutton senior analyst William R. Prather, R.Ph., M.D., is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals Financial PortalA website that provides a variety of financial data and information, acting as an information hub for clients who are individual investors requiring timely financial news and data to make their investment decisions. . On October 30, 2006, Minrad International reported its three and nine month financial results ending September 30, 2006. Following the release of these results, the Company conducted a conference call to update the investment community on its two complementary segments: (1) anesthesia and analgesia analgesia /an·al·ge·sia/ (an?al-je´ze-ah) 1. absence of sensibility to pain. 2. the relief of pain without loss of consciousness. , especially conscious sedation conscious sedation, n a state of sedation in which the patient remains aware of his or her person, surroundings, and conditions but without experiencing pain or anxiety. , and (2) real-time surgical image guidance. Revenues for Q3-06 totaled approximately $5.3 million and represented an increase of over 270% from Q3-05. Although this revenue gain did not meet our published estimate of approximately $7.6 million, we believe this apparent shortcoming short·com·ing n. A deficiency; a flaw. shortcoming Noun a fault or weakness Noun 1. was primarily our responsibility, as we did not appropriately adjust our estimate to account for the revised contract with RxElite, Inc., Minrad's U.S. distributor for its anesthetic agents Anesthetic agents Medication or drugs that can be injected with a needle or rubbed onto and area to make it numb before a surgical procedure. Anesthesia drugs may also be given by mouth, breathed in as a gas, or injected into a vein or muscle to make a patient , which reduced RxElite's required minimum purchase commitments. Minrad's market value has approximately doubled since we initiated coverage in February 2006, and we believe the Company's value will continue to appreciate. We anticipate Minrad will post huge revenue and earnings gains as its generic inhalation anesthetic inhalation anesthetic n. A gas or a vaporous liquid that produces general anesthesia when breathed. inhalation anesthetic business blossoms and successes occur in the development of its conscious sedation and real-time imaging 'real-time' imaging Visualization of a dynamic process µsecs after occurring, which requires rapid information processing–ie, as the process occurs, as in 'B' mode ultrasound programs. With our belief that Continued appreciation in Minrad's market value is forthcoming, we are reiterating our Strong Buy investment rating with a 12-month price target of $5.85. About Dutton Associates Dutton Associates is one of the largest independent investment research firms in the U.S. Its 31 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors. The cost of enrollment in our one-year continuing research program is US $39,500 prepaid before commencement of our research activities. We received $35,000 from the Company for 4 reports and requisite Research Notes commencing 2/02/2006, 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 relate 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. |
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