Event in Progress:
Discover the latest content that has just been published on Research Tree
Ipsen’s Q3 sales came in slightly below the consensus estimates. Neuroscience continued its healthy momentum, while Oncology reported modest gains as strong growth for the ‘patented’ oncology portfolio was almost offset by Somatuline’s erosion. Nevertheless, the 2023 guidance was unchanged. On the back of healthy performance across the existing offerings, an impressive pipeline and enough financial muscle to advance the external innovation strategy, our positive recommendation remains intact.
Companies: Ipsen (IPN:EPA)Ipsen SA (IPN:PAR)
AlphaValue
Ipsen’s Q2 sales came in ahead of expectations. Neuroscience continued its strong momentum and even ‘patented’ Oncology managed to offset the decline for an off-patent drug. More importantly, the 2023 guidance was also upgraded. Overall, considering the healthy momentum for the existing drugs along with a slew of readouts in the near term and the balance sheet flex to pursue an external innovation strategy, our positive recommendation is maintained.
Ipsen’s Q1 sales numbers came in ahead of street expectations. Healthy growth was witnessed in Neuroscience, while Oncology also ended on positive note, despite Somatuline’s erosion and a weaker Onivyde. Notably, despite the material erosion in Somatuline, the 2023 guidance remained unchanged. Overall, with a slew of readouts in the near term, along with impressive pipeline and strong balance sheet to pursue external innovation strategy, our positive recommendation is maintained.
Ipsen’s Q4 results came in ahead of expectations. Growth was driven by Neuroscience, but was partly offset by Oncology. Notably, despite a material erosion in Somatuline, the firm managed to report promising CER growth. Moreover, 2023 guidance seems encouraging despite further erosion of Somatuline due to generics. Overall, considering a promising portfolio/pipeline, and balance sheet flex (to pursue further growth), our positive recommendation is maintained.
Ipsen’s Q3 sales came in ahead of both the AV and consensus expectations. Healthy growth was witnessed in Neuroscience while Oncology was resilient, despite’s Somatuline’s erosion. While Somatuline headwinds remain an unchanged reality, given the healthy momentum for the existing offerings, a strong line-up of potential assets and balance sheet flex to further expedite (external) innovation initiatives, Ipsen remains a well-differentiated and attractive small pharma in our coverage.
Ipsen reported strong Q2 results, exceeding the company-compiled estimates. Despite generics posing a threat to its lynchpin drug i.e. Somatuline, the promising trends for other offerings and less severe generics-driven headwinds prompted a guidance upgrade. Add to this the various other near-term readouts and balance flex being put to good use via the pursuit of newer growth bets and this French small pharma remains a very attractive sector bet.
Ipsen reported healthy Q1 22 sales, with good performances in both Neuroscience and Oncology. Despite generics posing a strong threat to Somatuline, management has reiterated its 2022 guidance. On the back of a strong pipeline of internal assets, an effective external innovation strategy and important data readouts in H2 22, Ispen has become an attractive pharma / oncology bet, especially considering today’s sell-off.
Ipsen reported strong Q4 and 2021 results, with robust growth across neuroscience and oncology. Margins improved further and the dividend was increased by 20%. Going forward, despite the expected loss of sales for Somatuline, given the risk of generics, Cabometyx’s label expansion along with the strong performance for other key drugs should support business momentum. Moreover, a strong pipeline and various external innovation agreements covering high-potential areas should render further support
Ipsen reported a healthy set of Q3 sales numbers. The limited impact of generics coupled with strong uptake/recovery across all segments resulted in a FY21 guidance upgrade. Moreover, recent collaborations should result in the targeting of additional newer growth avenues. Overall, with the new strategy in place, it seems that this French small pharma is on course to regain its lost glory.
Ipsen’s rare bone disease asset, Palovarotene, has hit yet another regulatory setback – filing has been withdrawn after US FDA demanded additional phase III data. Although the group plans to re-submit the filing, Palovarotene’s US launch is pushed back into 2022 and, considering that the high-margin drug was partially expected to fill the revenue hole due to the upcoming generic erosion of Somatuline, the news has not been taken well by the markets. A value-accretive deal could reignite investor
Benefiting from the gradual lifting of confinement measures, Ipsen reported a robust sales acceleration in Q2 with the neurosciences and oncology franchisees leading the gains. The margin advanced considerably, led by operational leverage and strict cost management. Importantly, FY21 sales and profitability targets have been raised, assuming a progressive recovery from the pandemic. Although the upcoming generic erosion of Somatuline continues to be a risk, new drug approvals and the recently-st
Benefiting from strong demand for Cabometyx and Dysport, sales momentum accelerated for Ipsen in Q1 21. Importantly, Cabometyx, in combination with Opdivo, has been approved as a first-line of treatment for renal cell carcinoma, and this is quite encouraging. Although the phased launch of Somatuline’s generic (expected by mid-2021) is a key risk, management reiterated its FY21 guidance.
Benefiting from the resilience of the oncology franchisee, sales momentum accelerated in Q4 and the FY20 targets were exceeded. Assuming the phased launch of Somatuline’s generic in Europe, management seems cautious with its FY21 outlook, but considering that the generic is going through a slow and staggered launch, upgrades can’t be ruled out. Label extension of Cabometyx should also lend support. Given the firepower of €1.3bn, management’s focus is to replenish the pipeline through external in
Research Tree provides access to ongoing research coverage, media content and regulatory news on Ipsen. We currently have 48 research reports from 2 professional analysts.
Companies: Warpaint London PLC
Shore Capital
Feature article: Steady as she goes, but could be better: A review of investment company liquidity since 2016 Liquidity is the lifeblood of equity markets. The measurement of liquid asset availability to a market or company is a way of gauging a market’s health. This article builds on our previous work, which analysed the liquidity data for non-financial trading companies, by applying the same analytical techniques to the investment companies (IC) space. We analyse liquidity for ICs as a whol
Companies: NBPE ICGT ARBB RECI CLIG HAT AVO VTA APAX
Hardman & Co
Avon Protection’s capital markets day highlighted its continued focus on medium-term margin expansion (targeting operating margin of 14–16%), concentrating on its core business of respirators and head protection. The unwinding of the armour business, alongside the consolidation of Team Wendy (acquired in H220) should enable Avon to benefit from rising global defence spending. Its strong relationship with the US DoD, and organic growth opportunities with recurring revenue from necessary product r
Companies: Avon Protection PLC
Edison
15th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: Change of Market: TheWorks (WRKS.L) a multi-channel value retailers of books, arts and crafts, stationery, toys and games, offering customers a differentiated propositio
Companies: GTC SAV FAB KRM BOOM
Hybridan
Companies: SCE HVO VLG
Cavendish
Companies: IGP RUA BOOM
17th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
Companies: ARS TIDE SCE SNX ECK CNS TST SPEC SSTY
TRX is focused on the development and commercialisation of two proprietary processing technologies for the repair of soft tissue (dCELL®) and bone (BioRinse®). It has a broad portfolio of products used in biosurgery, orthopaedics and dental markets. Investment in tissue processing, manufacturing capacity and strong commercial partners, together with its “4S” strategy, has generated six consecutive reporting periods of strong growth, with TRX turning EBITDA-positive in 2023. Further growth in 202
Companies: Tissue Regenix Group plc
Cambridge Nutritional Sciences (CNS) has published its H1 2024 results to end September 2023. Group revenues grew 44% to £4.9m and gross profits increased by 63% to £3.1m, with the company benefitting from newfound operational efficiencies. With its now streamlined strategy focussing on the core Health & Nutrition business and the initial signs of an encouraging uptick in sales momentum, we believe the company is well positioned for growth that will help create future value for shareholders. We
Companies: Cambridge Nutritional Sciences PLC
Venture Life has reported FY23 results to December 2023, following the February trading update. Revenues grew 17% in the year to £51.4m (our est. £50.7m) and adjusted EBITDA was £11.6m (our est. £11.6m). Cash conversion was 85%, generating £9.8m of cash from operations. Cash generation and no M&A in 2023 allowed the company to de-lever, closing FY23 with net debt to adjusted EBITDA at 1.3x. Management have focused on growth with three therapy areas generating double-digit revenue growth and onli
Companies: Venture Life Group Plc
Companies: BILN IGP RBN SBTX
The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (
Companies: TXG NDVA TSVT BCOW Z29 TXG NCYT GNS SUN AMS OMG APH EKF EAH IMM AGL DEMG AGY TSTL IPO GDR ETX TRX HVO CTEC AVO OXB DEST VLG IXI VAL INDV AGR AVCT BAI 123F IMCR BCOW
Diaceutics has released a trading statement for the year to December 2023 guiding to revenue growth of 22% YoY to £23.7m, up 19% on a constant currency basis. The order book jumped 57% to £26.6m, of which c£12.3m is expected to be realised in FY24, and which currently stands at £30.8m. The proportion of recurring revenue continues to increase and is now over 50% (FY22 35%). Cash at YE23 stood at £16.7m, indicating a near halving of the rate of cash burn in 2H23 compared to 1H23. We adjust our FY
Companies: Diaceutics Plc
Capital Access Group
Zoetis delivered a decent set of results for the last quarter of 2022 meeting analyst expectations as well as the high end of its management guidance. Despite the economic challenges, ongoing pandemic recovery, and the political unpredictability brought on by the war in Ukraine, they delivered operational growth for the year in each of their top 13 markets. The company's unique companion animal portfolio drove its 8% operational revenue increase for the year, growing 14% operationally. In compar
Companies: Zoetis (ZTS:NYSE)Zoetis, Inc. Class A (ZTS:NYS)
Baptista Research
Companies: NTQ KMK JNEO DCTA
Share: