Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PURETECH HEALTH PLC. We currently have 10 research reports from 1 professional analysts.
|22Dec16 07:00||RNS||Director/PDMR Shareholding|
|20Dec16 16:53||RNS||Research Update: Two Studies from Tal Medical|
|15Dec16 07:00||RNS||Research Update: PureTech's Karuna data positive|
|19Oct16 07:00||RNS||PureTech's Vedanta Granted European Patent|
|03Oct16 12:07||RNS||Second Price Monitoring Extn|
|03Oct16 12:02||RNS||Price Monitoring Extension|
|27Sep16 07:00||RNS||Director/PDMR Shareholding|
Frequency of research reports
Research reports on
PURETECH HEALTH PLC
PURETECH HEALTH PLC
N+1 Singer - PureTech - PureTech re-allocating cash after disappointing data from Tal Medical
21 Dec 16
Tal Medical’s dose optimisation study in treatment-resistant major depressive disorder failed to meet its primary endpoint and follows the disappointing data in June from its RAPID trial. PureTech is now assessing where to re-allocate the capital it had earmarked for Tal Medical. PureTech owns 54.2% of Tal Medical and it represented c.10% of PureTech’s valuation of its growth stage companies at the end of 2015 (Tal Medical has now been moved to project phase). We believe Tal Medical’s valuation may be written down, although note there have been some positive developments with other companies within PureTech’s portfolio which continues to offer a diversified approach and reduced risk exposure. We continue to view Vedanta as the most interesting PureTech operating company and look forward to it commencing its first clinical trial in 2017.
N+1 Singer - PureTech - Mixed Karuna proof-of-concept data
15 Dec 16
Karuna’s proof of concept trial of its KarXT product reduced the incidence of adverse events but not the severity. KarXT continues to be safe. The group intends to undertake a Phase II trial in 2017. PureTech owns 79.6% of Karuna on a diluted basis and is also eligible to potential product royalties. Karuna represented around 12% of PureTech’s valuation of its growth stage companies at 31 December 2015. We continue to view Vedanta as the most interesting PureTech operating company and look forward to it commencing its first clinical trial in 2017. We continue to expect additional portfolio company data over the coming year. We remain at Buy.
N+1 Singer - PureTech - Interim results highlight upcoming newsflow
07 Sep 16
PureTech’s interim results highlight a busy six months with multiple portfolio financings and development progression with 20 clinical trials ongoing. We continue to expect five proof-of-concept readouts as well as multiple pivotal or registration trial readouts, along with a potential product launch (Akili) over the next 24 months. PureTech is well financed with a consolidated cash balance of $297.4m at the period end. PureTech is trading at an EV/portfolio value of 0.7x, an undeserved discount to the sector in our view. We remain at Buy with a 243p Target Price.
N+1 Singer - Morning Song 07-09-2016
07 Sep 16
Consort Medical (CSRT LN) In line AGM statement & contract with AZ | Futura Medical (FUM LN) Stellar data from pivotal MED2002 (Eroxon™) trial | Karolinska Development AB (KDEV SS) Forecast update post Q2: portfolio value credible, but stock expensive | N Brown Group (BWNG LN) Deep value but more downgrades after tricky Q2 | OMG (OMG LN) Yotta continues international expansion with Amey contract | Oxford Pharmascience Group (OXP LN) Interim results provide update on development activities | PureTech (PRTC LN) Interim results highlight upcoming newsflow | Servelec Group (SERV LN) Interims reflect difficult H1. Outlook more positive | Vectura Group (VEC LN) Solid AGM update
$50m financing for Vedanta Biosciences
06 Jun 16
Vedanta Biosciences has raised $50m to enable it to progress drug candidates in a range of autoimmune and infectious diseases. We view Vedanta Biosciences as one of PureTech’s more interesting companies and look forward to the commencement of clinical trials in H1 2017. PureTech is contributing around $30m and its ownership adjusted value will increase by roughly $37m to $120m (75.4% ownership). Vedanta Biosciences now represents 36.5% of PureTech’s $328.7m valuation of its growth stage companies. We update our valuation this morning, increasing our Target Price to 243p (from 229p) and remain at Buy.
21 Feb 17
Lighthouse Group* (LGT): Middle Britain growth (CORP) | Utilitywise* (UTW): Double-digit sales growth (CORP) | Trakm8* (TRAK): Earnings expectations cut again (CORP) | dotDigital* (DOTC): Myriad growth opportunities (CORP) | Artilium* (ARTA): Five-year Telenet deal secured and prepaid (CORP) | Netcall* (NET): Cloud investment pays off (CORP)
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
Industry fundamentals remain positive
21 Feb 17
The Biotech Growth Trust (BIOG) is a specialist vehicle, aiming to generate long-term capital growth via investment in global biotech stocks. Following a particularly volatile period for the biotech industry, where concerns about drug pricing and investor risk aversion have weighed heavily on stock prices, the managers are hopeful that greater clarity regarding US healthcare policy will lead to continued improved performance of biotech stocks. Industry fundamentals remain attractive, including continued innovation and valuations are very supportive, which offers the potential for higher industry merger and acquisition activity.
13 Feb 17
Surface Transforms* (SCE): H1 results confirm operational progress (CORP) | Premaitha Health* (NIPT): European diagnostics partnership (CORP) | Lok'nStore* (LOK): Filling existing stores, developing new ones (CORP) | Victoria* (VCP): Entry into the European flooring market (CORP) | eg solutions* (EGS): Exceptional H2 performance (CORP)
Share & share alike
14 Feb 17
The rally in the last fortnight, highlighted in the table, reflects a continued flow of positive updates and economic news. The FTSE 250, Small cap and Fledgling indices have reached record highs. We are in the lull ahead of results for those companies with a December year end, a welter of economic data regarding the UK economy, the State of the Union address in the US on 28 February and the UK Budget on Wednesday 8 March. We will learn at that stage the latest forecasts from the Office of Budget Responsibility. As highlighted previously, the reaction to corporate updates will continue to set the tone.
Middle Britain growth
21 Feb 17
The Company has achieved our 2017 estimate in 2016 with EBITDA of £2.2m, up 37% on 2015. We upgrade our estimates by 10% at the EBITDA level in 2017. If the shares traded even at the lower end of comparators, they would trade at 17p. We expect the share price to reach our upgraded 17p price target in the short term. Few companies enjoy the unique positioning which Lighthouse has to benefit from the assets of Middle Britain.