Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ANGLE PLC. We currently have 20 research reports from 5 professional analysts.
|26Jan17 07:01||RNS||Interim Evaluation of Ovarian Cancer Study|
|26Jan17 07:00||RNS||Interim Results|
|04Jan17 07:00||RNS||Notice of Results|
|28Nov16 07:00||RNS||ISSUE OF SHARE OPTIONS|
|24Nov16 14:48||RNS||Result of GM|
|04Nov16 07:00||RNS||Barts Research Supports Potential Use of Parsortix|
|01Nov16 07:00||RNS||Notice of GM|
Frequency of research reports
Research reports on
14 Feb 17
"US equities further extended their gains on Monday. All principal indices once again chalked-up new record closings, following more modest gains in Asia and Europe, after having confidence boosted by recently strong earnings reports, rising commodity prices and, most importantly, hints of a proposal for a significantly more accommodating US corporate tax regime later this month from President Trump. The US$ also spiked higher as investors anticipated today's start of a two-day semi-annual testimony to the US Senate from Federal Reserve Chairwoman Janet Yellen, who is scheduled to speak at 15:00hrs GMT. Fed Funds futures suggest the markets are not expecting another rate increase to actually be delivered until June, but any hints or deviation from her commitment to gradually normalise monetary policy will be scrutinised by traders determined to ensure they are not caught by surprise. Meanwhile, the European Commission, which updates its projections three times every year, said that the 19-country Eurozone economy is expected to grow 1.6% this year, slightly higher than the 1.5% it forecast in November, despite uncertainties raised by Brexit and Trump's election. Somewhat spoiling the party first thing on Tuesday, however, has been news from Asia that January Consumer Prices in China grew at their fastest pace for over two years, driven by rising energy prices and Lunar New Year buying. This follows faster than expected Producer Prices, which hit 6.9% year-on-year when detailed last week, providing evidence of Beijing own efforts to stimulate credit and inject growth while remaining reluctant to burst obvious asset bubbles, such as real estate. This news sucked enthusiasm from the Asian equity session, leaving most bourses to close unchanged to fractionally down, although a sharp rise in the Yen:US$ surprised late afternoon traders enough to knock the Nikkei down more than 1% as the market ended. A good batch of UK macro data is due for release this morning, including January Retail, Consumer and Producer Price, along with the DCLG House Price Index. Eurozone Q4 GDP and December Industrial Production data is also due, while the US provides its own Consumer Prices and Industrial Production numbers. UK corporates expected to provide earnings or trading updates include Acacia Mining (ACA.L), Pendragon (PDG.L), Rolls-Royce (RR..L) and TUI AG (TUI.L). London is seen taking the hint from Far Eastern markets to give back some of yesterday's rise during this morning's early trading, with the FTSE-100 seen opening down 15 to 20 points." - Barry Gibb, Research Analyst
Data from ovarian cancer studies in Q217
14 Feb 17
Angle’s H117 business update revealed that R&D activities are progressing well, while the company booked further research use sales. The first prospective clinical studies with Angle’s liquid biopsy system Parsortix in ovarian cancer reported positive early evaluation results and are due to report headline data in Q217. Our SOTP-based valuation is increased modestly to £140.3m or 188p/share. The main 2017 catalysts are the results from the ovarian cancer studies; an acceleration of research use sales; any new data from Angle’s multiple KOLs and customers investigating Parsortix; and progress with the FDA analytical and clinical studies.
13 Feb 17
Middlesbrough-based pawnbroker Ramsdens Holdings is set to join AIM on 15 February. Its growth is not coming from its core business but from providing foreign currency, pre-paid travel cards and international payments. The strategy is to increase the group’s online activities and grow the number of branches. In the year to March 2016, group revenues improved from £29.2m to £30m. The accounts of the main subsidiary show that foreign-currency margin rose from £5.36m to £7.59m. This contributes 35% of group gross profit. By contrast, the core business of pawnbroking, precious metal purchases and retail sales fell from £21.3m to £19.8m. Revenues from other financial services were flat at £2.6m. Ramsdens has 127 sites and last year it made an operating profit of £3.19m. In the six months to September 2016, revenues increased from £16.2m to £18.4m and operating profit improved from £2.81m to £3.48m. The placing will raise £15.6m at 86p a share, valuing the company at £26.5m. NorthEdge Capital, which backed a buyout in September 2014, will receive just over £10m from share sales. The NorthEdge stake will fall from 75.6% to 30.7%. The other £5m will go to the company and be used to repay the remaining loan notes and the costs of the flotation. By the end of March 2016, there were still £4m of loan notes outstanding to NorthEdge, with £4.86m paid off during the previous year.
27 Jan 17
"Friends and neighbours. Having drawn swords with Mexico regarding The Wall, the White House appears to have concluded the most obvious way to ensure they do finally end up paying for its construction, is to simply impose punitive import taxes on their US-bound goods and services. Meanwhile, having failed to appoint a Commerce Secretary, Donald Trump has declared that today he will personally discuss the framework for a post-Brexit trade deal with Theresa May when they meet this afternoon. The devil, of course, will always be in the detail, but nevertheless, these talks are much more important for the UK (whose exports, valued at US$125bn, representing 17% of its international trade) than it is for the US (who send just US$65bn back across the Atlantic, representing less than 0.5% of their GDP). So the Prime Minister will need to tread lightly when raising the point she has already made to an assembly of House and Senate Republicans, that neither of their countries can afford to forget their responsibility in shaping world affairs, such as helping to defeating the ideology that drives Islamic extremism. The Dow Jones gleaned enough confidence from the President's continuing actions to ensure a third straight daily rise, keeping it firmly above the 20,000 marker, although the NASDAQ and S&P-500 but closed with fractional losses. The start of the extended Chinese New Year holidays meant that the Shanghai Composite was closed and a good number of the region's other bourses had shortened sessions, resulting in particularly low Asian volumes. That said, the Nikkei still found cause to celebrate a slower than expected decline in its consumer prices, suggesting its battle against deflation may finally be bearing fruit, with a modest gain, although the ASX notched up the territory's strongest performance. Europe had been hoping that Greece's talks with its creditors that took place yesterday would result in a breaking of the bailout deadlock; in the end no conclusion was reached, unfortunately deferring discussion regarding their aid package to another session which finance ministers insist should be concluded before the elections in the Netherlands and France get underway. No significant macro data is expected from the UK today although the EU will provide M3 and Private Loans figures, before the US releases another heavy batch of statistics, including Q4 GDP, Personal Consumption, Durable Goods Orders and the Michigan Consumer Sentiment Index. Investors in London will also be anticipating Moody's scheduled report on the UK's Sovereign Debt Rating today, which is likely to leave the equity market opening this morning rather lacklustre, with the FTSE-100 seen rising some 20 or so points in early trade."
07 Nov 16
"London markets are seen recovering some of their poise this morning, with the FTSE-100 expected to open up over 60 points in early trade. This is due to comments from the FBI Investigation Director, James Comey, on Sunday in which he noted that no new evidence had been found to warrant charges against Hillary Clinton, following further review of her use of a private email server. US equities, having been hit again on Friday with the S&P-500 chalking up its 9th consecutive day of losses, both futures and the Dollar immediately sparked sharply higher as some of the precautionary risk premium taken against a Trump victory was given back. Even so, things still seem to be balanced on a knife edge; latest poll of polls appear to have stabilised with Democrats trending one percent or so ahead of Republicans, although Trump's energy and more outrageous manner means he continues to capture the largest viewing minutes. Asian markets took their lead from US futures with, for example, the Dow being forecast to rise over 1.2% this afternoon during their session, powering a relief rally across the board, led by strong gains from the Nikkei and ASX while the Chinese indices, which had not participated in the sell-off of the past few days as a result of strong domestic PMI data, were less enthusiastic. Gold also pulled back from the psychologically important US$1,300 mark, as safe-haven investors locked in recent gains. The UK is due to release the Halifax House Index and BDO Business Trends Report figures this morning, while Prime minister Theresa May is expected to open a summit in India with a view to securing a trade agreement with the world's fasting growing major economy. Corporates due to report earnings or trading updates this morning include Dignity (DTY.L), Hiscox (HSX.L), HSBC Holdings (HSBA.L) and Morgan Advanced Materials (MGAM.L). Of these, eyes will be mostly focussed on HSCB, which released figures after the Hang Seng close this morning, detailing a swing into 3Q'16 losses following a disposal loss on sale of its Brazilian operation, leaving pre-tax profits for the period 86% below the comparative." - Barry Gibb, Research Analyst
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
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)
N+1 Singer - Small-cap quantitative research - New quality style screen + 11 quality focus stocks
09 Feb 17
We introduce our fourth and final style screen representing “quality”. This screens for stocks with the best combination of high returns on capital/equity, EBIT margins and operating cash-flow conversion rates. These criteria should help us monitor how strong underlying returns translate into share price performance over time and under varying market conditions. The screen selects the “best” 25 stocks from our universe of just over 500 stocks and, as usual, we focus on a shorter list of stocks we cover or otherwise know and believe to be particularly interesting. We provide brief investment summaries on these focus stocks on pages 4 – 9. We will monitor performance and refresh the screen in approximately 3-4 months time.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Time to go over weight
24 Feb 17
We believe equity investors are taking an unnecessarily cautious stance on the construction sector. Forward looking indicators (e.g. consumer confidence, construction PMIs and housing starts) point to a stable market and recent sales LFL are particularly encouraging (e.g. Marshalls). Near term margins may suffer temporary distortions as inflationary pressures build. However, history has shown that modest input cost inflation is actually a positive for earnings growth in the sector. Therefore, as we move into 2018, margin trends are likely to surprise on the upside.
N+1 Singer - Morning Song 22-02-2017
22 Feb 17
CORETX (COR LN) Contract wins and new Lifestyle facility | Gooch & Housego (GHH LN) Solid Q1 trading plus earnings enhancing acquisition of StingRay Optics | NCC Group (NCC LN) Further issues in Assurance | PCI-PAL (PCIP LN) Strong H1 underpins positive outlook | UBM (UBM LN) Results | Verona Pharma (VRP LN) Phase IIa RPL554 add-on trial to tiotropium commenced