Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on BTG PLC. We currently have 21 research reports from 6 professional analysts.
|02Mar17 14:03||RNS||Total Voting Rights|
|01Feb17 12:10||RNS||Total Voting Rights|
|03Jan17 14:14||RNS||Total Voting Rights|
|01Dec16 13:33||RNS||Total Voting Rights|
|25Nov16 16:58||RNS||Holding(s) in Company|
|15Nov16 07:00||RNS||Half-year Report|
|01Nov16 13:08||RNS||Total Voting Rights|
Frequency of research reports
Research reports on
Panmure Morning Note 07-03-2017
07 Mar 17
BTG has received Class III CE mark approval for its DC Bead LUMI. bead, this is the first radiopaque bead, which allows the position of the beads to be visualised both during placement and on follow up visits. BTG has underperformed in recent weeks, we believe the shares now at a price which do not attribute any value to Varithena and believe that as the company more effectively communicates its transition to a medical technology focus the shares will rerate. We maintain our BUY recommendation and 737p target price.
PG: Growth Prospects in Healthcare
26 Jan 17
We expect the volatility of the last 3 months to continue, with macro events, particularly the uncertainty brought by President Trump and his focus on pharma pricing and dismantling the Affordable Care Act, likely to keep healthcare in the headlines for the wrong reasons. We believe the more highly valued larger stocks are likely to struggle to break out to new trading levels, but note there remains good value within the smaller end of the sector for stockpickers, with company specific events likely to drive some stocks well ahead of the crowd.
IM-proving the model
05 Jan 17
BTG is building into a substantial medtech company, with cash generated by Specialty Pharma and Licensing divisions enabling both investment in the existing Interventional Medicine (IM) portfolio and acquisition of new technologies. Whilst we remain cautious on the outlook for the less established products (Varithena, PneumRx), we believe the Interventional Oncology portfolio has the potential to drive double digit growth. We reinstate our BUY recommendation and introduce a 737p TP.
Solid results; upgrade to guidance; but early portfolio still nascent
15 Nov 16
BTG reported interim results in line with expectations and raised FY guidance, this is likely to prompt upgrades, primarily due to currency. However, earlier stage products (Varithena and PneumRx) are still showing only limited contribution and in our view significant growth from these is unlikely to come through for next 24 months. With Specialty Pharma slowing, and Licensing revenue likely to fall off from 2018 the $1.5bn revenue target for 2021 looks challenging without further acquisitions.
A Quarterly look at UK Healthcare
02 Nov 16
Today we publish PG:GP (Panmure Gordon: Growth Prospects), our first quarterly take on the healthcare sector. We see current macro volatility providing a strong backdrop for the more naturally defensive healthcare stocks which are underpinned by solid fundamental drivers. The run-up to the US Presidential election has repeatedly reminded us that pharmaceutical pricing is one of Hilary Clinton’s main targets, and whatever the result, we see a see greater emphasis on outcomes-based pricing and reimbursement as a major influence for the future. In the UK, concerns voiced by the pharma majors over use of new drugs in the UK post Brexit may encourage adoption of some of the recommendations published last week in the UK Government’s final report on the Accelerated Access Review.
Life Science Sector review
11 Jul 16
And then worst of all, you never get approval when you say you will. There is nothing that causes investor whiplash more than a sudden announcement of an unsuccessful clinical trial. Whether you are the onedrug wonder on AIM or the multi-drug portfolio NASDAQ darling, the market never takes too kindly to unsavoury news from the FDA on clinical results. But should investors lambast these two scenarios similarly based on poor trial results? The variables are endless but in this example the clear answer is no. Investors who invest in one-drug companies edging ever closer to FDA decision day do not have much cause for complaint as they are rolling the dice. But what of the company with many drug candidates in the clinic? Surely the usual knee-jerk reaction of a mass selloff is not rational when a company has a singular failure amongst a well-developed and advanced portfolio?
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
accesso Technology (ACSO LN) Full year results in line, but key trading months still ahead | Augean (AUG LN) Double digit growth in ’16, good start to ‘17 | Earthport (EPO LN) Interims show continued top line strength | Goals Soccer Centres (GOAL LN) Good momentum under new team. It’s now all about delivery | IQE (IQE LN) FY’16 results prompt further upgrades | Microsaic Systems (MSYS LN) Challenges in 2016, strategy remains in place | mporium Group (MPM LN) Funds raised to help execute strategy | RhythmOne (RTHM LN) Dawn of the independents | ScS Group (SCS LN) Strong progress on key growth initiatives albeit comps now toughen | Sinclair Pharma (SPH LN) FY results: EBITDA ahead, Instalift™ gaining pace | Vectura Group (VEC LN) FY (9-month) results
N+1 Singer - EKF Diagnostics - Final results & potential buy back
20 Mar 17
FY16 prelims are slightly ahead of our latest expectations, those having been increased materially over the course of H2’16 as the strength of the recovery in trading became apparent. In order to maximise shareholder value, the directors are currently examining a potential break up of the group. This would also involve a delisting from AIM. A buy back offer at 21.5p would therefore be made to those investors that wish to exit now rather than holding their shares for the two years plus it would likely take to achieve a potentially higher realisation value for the businesses.
Good results, but further restructuring complex for investors
20 Mar 17
EKF Diagnostics FY 2016 results are slightly ahead of expectations, with both higher revenue and better EBITDA. Management has also announced plans to split the company into two separate companies, Point of Care and Laboratory Diagnostics, with the prospect of a delisting to manage the process. The primary metric for valuation of the two businesses is different consequently we believe that the separation is likely to generate significant value. However, in anticipation of the volatility likely given the restructuring announced this morning, despite the strength of the results, we reduce our recommendation to HOLD and maintain our 21p target price.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017