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Research Tree provides access to ongoing research coverage, media content and regulatory news on VISTIN PHARMA AS. We currently have 0 research reports from 0 professional analysts.

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Date Source Announcement
02Oct18 11:28 GNW Vistin Pharma ASA : Prospectus Summary for transfer of listing from Oslo Axess to Oslo Børs
30Aug18 06:00 GNW Vistin Pharma ASA : 20 per cent revenue growth in second quarter 2018
26Apr18 06:01 GNW Vistin Pharma ASA : Delivers 22% revenue growth in first quarter 2018
22Mar18 15:36 GNW Vistin Pharma ASA : UPDATE ON THE ENERGY TRADING BUSINESS
16Mar18 09:47 GNW Vistin Pharma ASA : Torbjørn Kjus joins Vistin to develop new business area
27Feb18 06:00 GNW Vistin Pharma ASA : Fourth quarter 2017 results
09Oct17 13:33 GNW Vistin Pharma ASA : Proposal for Extraordinary Dividend
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  • 08 Oct 18

FY 2018 results – 12% upgrades to FY 2019

Full-year adjusted EPS was 11% above our expectations, driven by higher revenues across the majority of its product range. A 55p special dividend was proposed, resulting in full-year dividend growth of 27% to 116p. Strong underlying revenue growth (c.28%), which excludes c.£0.8m of backdated royalties and the loss of a c.£1.0m royalty stream, bodes well for future growth. This was despite a weak start for troponin sales in Europe, which we expect to benefit from Siemens’ US launch in July. We have increased FY 2019 forecasts by 11% and introduced forecasts for FY 2020 that imply c.12% EPS growth. We reintroduce a target price of 3,440p, which implies a 3.2% FY 2019 free cash flow yield, underpinned by 51% free cash flow/capital employed and 64% ROCE.

Companies: Bioventix
  • 17 Oct 18

FY 2018 results – US update

Full-year results were marginally ahead of the July trading update. Revenue growth (10%), albeit at the lower end of target range, was affected by lower UK growth (+1%) but international markets (+19%) now account for 51% of revenues and EBITDA rose 16%. Clarity from the US FDA with regards the regulatory process for a high-level disinfectant has been received, and the revised process will delay the filing by six months. We still expect royalty income from Parker Labs in the US for its EPA-registered product in FY 2019. We make minor upgrades to our FY 2019 forecasts (+4% to EPS) and introduce FY 2020 forecasts for 12% EPS growth. Our 280p target price implies a FCF yield of 3.2%, although scope for upgrades from better than expected launch of SHOT should not be discounted.

Companies: Tristel
  • 18 Oct 18

Cenkos: Creo Medical Group Plc - Commercial progress

Creo Medical has announced its first mainland Europe distribution agreements covering Spain, the Netherlands, Belgium and Luxemburg. These announcements follow similar agreements covering the UK, South Africa and Asia-Pacific and further demonstrate the progress which Creo is making on the commercial front. We maintain our Buy recommendation.

Companies: Creo Medical Group
  • 04 Oct 18

THE MONTHLY October 2018

We are in the midst of the Conference season for political parties and trade unions in Britain. We all have a lot on our minds, with generational constitutional issues to the fore, but these have come to the fore after many years of concerns building up about citizens’ ‘place in the world’.

Companies: OPM AGY ARBB AVCT DISH BNO BUR CMH CLIG DNL DPP GTLY GDR HAYD KOOV MCL MUR NSF OXB PHP RE/ REDX SCE SIXH TRX TON VAL VTA W7L

  • 03 Sep 18

The Monthly September 2018

September’s Hardman Monthly features an article from guest contributor, Tim Ward. Tim is the Chief Executive of the Quoted Companies Alliance (QCA), an organisation that champions the interests of small to mid-size quoted companies.

Companies: OPM AVO AGY APH ARBB AVCT BNO CMH DNL EVG GDR INL KOOV MCL MUR NSF OXB PHP RE/ REDX SCLP SCE SIXH TRX TON VAL W7L

  • 22 Oct 18

LIBERUM: CareTech - Deal completed and set to be c.30% accretive

CareTech's acquisition of Cambian completed last week with the new entity being readmitted to AIM on Friday. Based on a higher than forecast uptake of CareTech's cash offer (cash plus shares was also a choice) we lower our share count thus raising our EPS forecasts by 4% on raised leverage of 4.4x by September 2019 dropping to 3.7x in 2020.

Companies: CareTech
  • 28 Jun 18

Momentum screen refresh + 7 highlighted stocks

We report on the performance of our momentum style screen since the last refresh three months ago and present the 25 new constituents. The screen underperformed small-cap and microcap indices modestly, though our previous focus stocks did significantly better. While momentum (as we express it) has outperformed smallcap significantly since inception of the screen in July 2016, this has arisen in shorter periods and appears to only coincide with a steadily rising small-cap index. We therefore consider this style screen to have limited predictive capability. We highlight seven stocks, which we think are interesting.

Companies: BMY EKT KEYS LGT MACF VER WYG

  • 25 Sep 18

Acquisition – 7% accretive in first full year

SDI is acquiring Fistreem International, a manufacturer and supplier of water purification systems (stills, deionisers) and vacuum ovens for use in the life science and industrial sectors. Considered a bolt-on acquisition, it is complementary to other SDI businesses such as ATC and Sentek, with opportunities for cross-selling as well as organic growth. SDI is paying £756k for the business, representing prospective proforma FY 2019 EV/Sales and EV/EBIT of 1.2x and 4.4x, respectively. The acquisition is being funded from cash with net debt and cash at year end of c.£0.6m and £2.0m, respectively. We expect the acquisition to be 2% accretive to adjusted EPS in FY 2019 (neutral to statutory EPS, given c.£55k of acquisition costs) and c. 7% in FY 2020. We raise our target price by 5% to 44p to reflect the earnings accretion. Based on our 2020 forecasts, this would place SDI on CY 2019 EV/Sales of 2.3x, EV/EBITDA of 10.1x and adjusted P/E of 16.4x with a FCF yield of 5.0%, rising to 5.8% in FY 2020.

Companies: Scientific Digital Imaging
  • 17 Oct 18

Continued to-do ends up in a profit warning

FMC looks to be negatively impacted by several effects in Q3 and it released an ad hoc statement. The information in this, especially the tables, needs a roadmap to navigate through it. Despite the divestment of Sound Inpatient Physicians (Sound), we were already quite conservative regarding FY 2018, we will have to dive deeper as the information provided looks incomplete to us (especially the FY comparable basis).

Companies: Fresenius Medical Care AG & Co
  • 08 Apr 16

Interventional medicine: An engine of growth

Growth across all three divisions of BTG’s Interventional Medicine (IM) franchise (oncology, vascular and pulmonology), coupled with currency tailwinds, helped push FY16 revenue towards the upper end of guidance (£410-440m, or $578-620m). Strong cash flows from the Specialty Pharma (SP) and Licensing businesses are reinvested, establishing BTG as a leader in the growing IM market. The company has successfully integrated a number of IM acquisitions, including the most recent, PneumRx, which combined with strong execution underpin BTG’s IM sales target in excess of £1.25bn ($1.76bn) in 2021.

Companies: BTG
  • 24 Feb 16

Underlying H1 PBT jumps 35% to £1.5m

After January’s wild swings on the FTSE, RBS’ erudite analysts advised their clients to “sell everything except investment grade bonds”, warning that 2016 would be “cataclysmic”. Blind panic, though, is not the answer. Long term investing is all about building a diversified portfolio of quality names at attractive prices – each being able to deliver predictable earnings across the economic cycle.

Companies: Tristel
  • 02 Sep 15

Clinical trial contract award raising the bar

IXICO has secured one of its biggest contracts yet, worth $7m over seven years for clinical trial services. The award supports our investment thesis and financial forecasts, reflecting strong growth through the expansion into new indications, new markets and bigger contracts. IXICO is also well placed to capitalise on the burgeoning use of digital technologies in disease management. Using a DCF, we value IXICO at £10.7m or 63p/share.

Companies: IXICO
  • 13 Oct 16

N+1 Singer - Futura Medical - Evaluating the upside: a topical overview

Following excellent results from the first pivotal trial of MED2002 (Eroxon™) we have included the programme in our valuation. The net result is a major intrinsic value upgrade from 56p/share to 113p/share. In this note we detail our assumptions not only for the MED2002 programme but also for the CSD500/Blue Diamond™ franchise and the topical pain relief products TPR100 & TIB200. With pain relief deals and further CSD500 launches expected in the near term, we retain a very positive stance.

Companies: Futura Medical
  • 07 Mar 17

The new age of live-biotherapeutics

The awareness of the microbiome and its relationship to human health and disease has grown in recent years and now attracts much interest from the global pharmaceutical and biotechnology industry. The human microbiome is comprised of over 100 trillion microbes which live in a number of different niches on or in the body, but mostly in the gut. The realisation that these microbes are more than mere ‘passengers’ has come about as alterations in the numeric and functional diversity of the microbial community have been characterised in far greater detail than ever before. Driven by technology innovations the growing depth of microbiome knowledge has enabled the dissection of associations between specific microbial communities and certain disease states. In this context, the potential to exploit the microbiome to treat or prevent the development of diseases is now being more fully explored by scientists and clinicians in both academia and industry. Strategies to therapeutically exploit the gut microbiome include standard small-molecule drug approaches, selective dietary supplements and bacteria themselves as therapeutic agents, so called live biotherapeutic products.

Companies: DDDD ASMB MCRB

  • 27 Apr 17

2016 Financial Results

4D Pharma (LSE: DDDD) is pioneering the development of Live Biotherapeutic Products (LBPs) as medicines based on the function of the microbiome in health and disease. This morning 4D reported its results for 2016, a year in which both the technology and pipeline of the company progressed significantly. 4D generated positive phase I clinical results for Blautix in irritable bowel syndrome (IBS) and entered clinical trials in paediatric Crohn’s disease (pCD) with Thetanix. In addition, 4D further developed its operations in the field of diagnostics and manufacturing through strategic acquisitions in Cork (Ireland) and León (Spain), respectively. Despite these acquisitions and increased investments in R&D (£10.2m), 4D ended the year with cash and equivalents of £68.8m. We believe that with its scientific leadership in the field of microbiome research and LBP development, 4D provides an excellent opportunity for investors to gain exposure to this innovative new class of medicines.

Companies: 4D Pharma