Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PLETHORA SOLUTIONS HOLDINGS. We currently have 6 research reports from 2 professional analysts.
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Research reports on
PLETHORA SOLUTIONS HOLDINGS
PLETHORA SOLUTIONS HOLDINGS
Keep it up
31 Jul 15
Plethora is a specialty pharmaceutical company focused on commercialising PSD502™ (a treatment for male premature ejaculation) with strategic marketing partners and obtaining approval from the US FDA. The product received marketing authorisation from the European Medicines Agency (EMA) in November 2013 and was successfully partnered with Recordati in Europe and a few other territories. On the basis of DCF analysis, we value Plethora Solutions at £86.0m, underpinning our target price of 8.0p/share. Given the current share price, this implies 106.0% upside from current levels with a two-year horizon.
Initiation of coverage
31 Jul 15
Topic of the quarter: ‘Traditional headwinds looming large'. The UK Industrials sector has survived, indeed prospered, by focusing on high value added niches and growth markets. Unfortunately, one of these – the Oil & Gas segment – has been hit hard by the collapse in the oil price. Coupled with strong Sterling and weak demand in much of the developed world, the sector faces stiff headwinds for the balance of 2015 and into 2016.
Life Sciences Review - London calling to the faraway biotech: Now a bubble is declared and IPOs hail down
08 Jun 15
The British economy has 'cranked up several gears', according to the Confederation of British Industry (CBI), after a hiatus in the first quarter. Experts have passed off the slowdown in the first quarter of 2015 as a minor bump in the road for growth within the economy. The Office for National Statistics (ONS) in April 2015 revealed the UK economy had turned in the slowest quarterly growth for two years at 0.3 percent, driven by a widening trade deficit according to economists, which strengthened fears that the economy could well be heading for a slowdown. However, research conducted by the CBI put forward that business activity stepped up markedly in the three months to May, particularly led by strong growth in the professional services sector. Moreover, The Organisation for Economic Co-operation and Development (OECD) said that in spite of weakness in UK GDP in Q1 2015, growth has carried on at a "healthy pace", boosted by reasonable rises in consumption, employment and in real wages.
08 Dec 16
Elderstreet stake acquired 02 GENERAL NEWS Globalworth premium In this issue Venture capital firm Draper Esprit has taken a 30.8% stake in venture capital trust manager Elderstreet. Both investment managers focus on the technology sector and they will be able to co-invest. Elderstreet has investments in a number of AIM-quoted companies through its VCTs. The purchase was funded by an issue of Draper Esprit shares worth just over £250,000. Simon Cook, the chief executive of Draper Esprit, is a former partner at Elderstreet so he knows the business and the people who run it, although he did leave more than 14 years ago. Cook has previously acquired portfolios from 3i and Cazenove, two other firms where he has worked. Draper Esprit has an option to acquire the remaining shares in Elderstreet, which has more than £25m under management. Adding Elderstreet to the group enables Draper Esprit to offer investors a range of EIS funds, VCTs and an ISA qualifying listed evergreen patient capital fund. The enlarged group has venture capital assets under management of more than £350m. At the end of September 2016, Draper Esprit had a net asset value of 352p a share, which is similar to the current share price. The June 2016 flotation price was 300p a share. Draper Esprit is quoted on Ireland’s Enterprise Securities Market as well as AIM.
N+1 Singer - Morning Song 05-12-2016
05 Dec 16
RTHM is acquiring a profitable Canadian listed mobile specialist for equivalent of US$42.5m consideration in shares (88.235m). This helps adds to two growth vectors RTHM is targeting; (i) adds unique exclusive audience (10m unique) and (ii) Exclusive demand Yahoo and Facebook. The business has 15 premium and owned and operated apps which provide users with rewards for activity. The business is expected to deliver c$9m of EBITDA in FY18 including $2m of cost synergies. This equates to just 4.7x EV/EBITDA. This marks what we see the first step in RTHM activity to scale the business and deliver on margin potential (see our initiation notes). Our initial estimates for EPS revisions are very significant - for FY18 are 2.3 cents (currently 0.6) and for FY19 4.3 (currently 2.5). There is a call at 830 for investors and we will revise post this.
Exponential growth now in sight
07 Dec 16
The best things in life are worth waiting for, or at least that seems to be the case with Kromek, a pioneering radiation detection expert. Since listing on AIM at 51p back in October 2013, the company has not only been busily refining and field testing its next generation CZT (cadmium zinc telluride) technology, but importantly also securing a raft of new orders.
N+1 Singer - Morning Song 09-12-2016
09 Dec 16
This morning’s AGM Statement confirms that trading in the first four months of the year to 31st October was in line with expectations. Revenue was slightly above the prior year period and cash collection has remained strong. The Group has reiterated its commitment to maintaining a progressive dividend policy. The statement is encouraging and we therefore leave our forecasts unchanged. We note the attractions of a 5% dividend yield and consider the shares inexpensive at 4.5x FY’17 EV/EBITDA.
Small Cap Breakfast
07 Dec 16
Creo Medical group—Schedule 1 update.. £20m raise. Expected market cap £61.2m, admission expected 9 December. ECSC—Schedule 1 from provider of cyber security services. Raising £5m. Vendor sale £0.8m. Target date 14 Dec. Expected market cap £15m. RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m
N+1 Singer - Morning Song 06-12-2016
06 Dec 16
With FY16 volume and revenue already disclosed in the pre-close, the focus in today’s prelims is on PBT (£100.3m versus our £101m) and EPS (96.8p versus our 95.4p). No special dividend triggered this year (none forecast) and DPS is held at 46.8p (N1SE: 48.0p). On end markets, recent commentary is reiterated – the core business is growing, whilst consumer electronics will be subdued in the current year (competitive capacity from Solvay). On currency, there will be a material benefit in the current year (a little more than the £14m to £15m previously indicated), and a further tailwind next year if current rates are maintained (quantum TBC). There is also an investment of £10m today in a minority interest in Magma Global, Victrex’ oil and gas mega programme partner. Although the share price is now close to our TP of 1730p, we feel that there is enough in today’s announcement to retain a positive stance on medium term opportunities with strong cashflow and a special dividend potentially to look forward to in the current year.