Health equity research

Explore the most viewed and latest equity research and media content for companies within the Health sector. Companies working in the Health sector include pharmaceuticals, biotech firms, and medical equipment & service providers.

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Small Cap Feast

tinyBuild— a leading video games publisher and developer with global operations. tinyBuild's strategic focus is in creating longlasting IP by partnering with video games developers, establishing a stable platform on which to build multi-game and multimedia franchises is to join AIM. Offer details TBC. Due mid-March. AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to take place during March 2021. The Company intends to raise approximately £7m by way of a placing of new ordinary shares in the capital of the Company. Timing TBC. Samarkand Group Limited, the cross-border eCommerce technology and retail group opening up the world's largest market for brands and retailers, intends to IPO on the Apex Segment Aquis Stock Exchange Growth Market. Admission is targeted for March 2021. Cellular Goods a UK-based provider of premium consumer products based on biosynthetic cannabinoids announced its intention to join the main market (standard). Has raised £13M in an oversubscribed placing. £25m mkt cap. Due 26 Feb. NextEnergy Renewables to launch an IPO on the Main Market. NREN is a differentiated renewables investment Company that aims to capture the most attractive private renewables and energy transition infrastructure investment opportunities globally. Targeting a £300m raise. NREN is targeting total returns of 9-11 per cent. per annum (net of all fees and expenses but including the Target Dividend and capital appreciation) . The Company's target dividend yield for the first full financial year to 31 December 2022 is 5.5 pence. Due Early March 2021. Digital 9 Infrastructure launch an initial public offering on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of an initial placing and offer for subscription for a target issue £400m. Digital 9 Infrastructure plc is a newly established, externally managed investment trust. The Company will invest in a range of digital infrastructure assets which deliver a reliable, functioning internet. The IPO Prospectus is expected to be published in March 2021. Team PLC announced their plans for an AIM IPO. Team owns Theta Enhanced Asset Management Ltd, trading as Team Asset Management. This is a Jersey-based active fund manager providing discretionary and advisory portfolio management services to private clients, trusts and charities. Assets under management were GBP291m in November, up from GBP140m in December 2019 . The Company is seeking to raise no less than £5m. The Placing will be priced on a pre-money valuation for the Company of £7m. Targeting March Admission. Virgin Wines UK Plc has out their plans for an AIM IPO. Virgin Wines is a direct-to-consumer online wine retailer that sells products to retail customers in the UK through two subscription schemes and a pay-as-you-go offering. The Group also sells a range of beers and spirits and operates a B2B sales channel for corporates. Anticipated mkt cap £110m. Raising £13m in new money and vendor sale of £34.9m . Due 2nd March. Fix Price announces its intention to float on the Main Market of the London Stock Exchange. Fix Price is one of the leading variety value retailers globally and the largest in Russia, with more than 4,200 stores. Fix Price has revenues of RUB 190.1bn, RUB 142.9bn and RUB 108.7bn for 2020, 2019 and 2018, respectively. Adjusted EBITDA for the same years was RUB 36.8bn, RUB 27.2bn and RUB 14.2bn, respectively. The Offer would consist of an offering of GDRs by certain existing shareholders of the Company. Great Point Entertainment Income Trust PLC announced its prospectus has been approved by the FCA. Great Point Entertainment Income Trust PLC is a newly established, externally managed closed-ended investment company. The Company will provide project finance to content makers and commissioners in the global television and film production industry via senior loans secured against pre-sold intellectual property (IP) rights. GPEIT's investment objective is to provide Shareholders with dividend income and modest capital growth through exposure to media content finance. According to media reports, Deliveroo, are expecting to release their IPO plans on 8th March. The company raised more than $180m in January with a valuation of more than $7bn.


  • 25 Feb 21
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Positive Q4 20, waiting for Moderna tailwind

Stronger EBITDA despite weaker Enoxaparin sales Sales came in line with our numbers (but above consensus), with slightly weaker performance by Enoxaparin (-11% in Q4), offset by the rest of the heparin business. In Toll Manufacturing the company included the income from the Moderna technology transfer. With gross margin slightly below expectations due to slower than expected decline in sodium heparin prices, the positive performance in terms of costs helped the company to report 83% growth in EBITDA in Q4 with EBITDA margin improving 8.7 PP. This is c.10% above our numbers. FCF was impacted by working capital headwind due to the impact of raw material prices and stockpiling of products due to the Pandemic. Despite that, the company reached EUR5m positive FCF 2020 thanks to an upfront EUR20m payment from manufacturing activities. Guidance upgraded due to Moderna vaccine manufacturing Rovi updated its guidance for 2021. From a previous guidance of top-line sales in the mid-single digits, the company announced growth of between 20%/30%. This implies that the Moderna contribution should be between EUR44m and EUR74m in 2021. The company reiterated that it is still too early to know what the impact of the contract with Moderna will be for 2022 and beyond. Still a cautious environment The tone of the conference call was cautious given the uncertain scenario. Rovi expects the majority of Moderna revenues to come from Q2 onward. Regarding heparins, and despite sodium heparin having started to decline, ROVI does not expect to see margin improvement until the end of 2021 given current inventories. Finally, on Doria, and despite expecting EU approval soon, Rovi is likely to delay the product launch by 1 or 2 quarters, until COVID restrictions have eased a bit. We slightly revise our estimates and maintain our valuation range We slightly improve our estimates on better 2020 margin, but maintain our valuation range (EUR34/EUR48). Our estimates assume...

Laboratorios Farmaceuticos ROVI (ROVI:BME)Laboratorios Farmaceuticos Rovi, S.A. (ROVI:MCE)

  • 24 Feb 21
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