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BTG BTG PLC Recent market update as led to a raft of brokers updating there stances on this drugs/health/pharma company. http://content.screencast.com/users/marketsniper/folders/Default/media/1f624427-b349-4479-92be-53f82393af77/btg%201.jpg
BTG BTG PLC Recent Broker Views........ BTG broker views Date Broker Recommendation Price Old target price New target price Notes 13 Nov Deutsche Bank Buy 563.25 765.00 750.00 Reiterates 13 Nov JP Morgan Cazenove Overweight 563.25 900.00 900.00 Reiterates 12 Nov Jefferies International Buy 563.25 850.00 850.00 Reiterates
Perhaps this is why it fell: "Basic and diluted adjusted earnings per share (excluding acquisition adjustments and reorganisation costs) was previously stated as 18.7p and 18.4p respectively on an underlying earnings of £71.4m. A mathematical error in calculating underlying earnings added back instead of eliminating from the calculation the £7.5m post-tax impact of the fair value changes on contingent consideration, described in Note 6 of the Interim Financial Statements. As a consequence, underlying earnings has now been amended to £56.4m," It was even part of the financial summary: Adjusted earnings per share (excluding acquisition adjustments and reorganisation costs) were 35% higher at 18.7p (H1 14/15: 13.9p) So wasn't 35% higher but only 4%. Not very impressive.
A good RNS - http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BTG&ArticleCode=wywihywj&ArticleHeadline=Half_Yearly_Report Therefore surprised to see the fall to almost 520p. There seems to be support at this level and it would appear to be a good opportunity to buy at or close to the bottom.
I added some more (not the million shares) while it was down. With today's movement and all being well should see this gap back up to 600p+ next week.
Even so, this sell off does seem a bit overdone. It was down nearly 25% yesterday from the close prior to the update. Two large trades of around a million shares each snuck in at 537.5p before the close yesterday so I guess someone is seeing this downturn as a buying opportunity?
Sorry to hear that. I really do think analysts/brokers do talk hog wash. How can they come up with a comment like "Unfortunately, a large number of physicians aren't regularly reordering Varithena after completing initial patient valuations." without giving any explanation as to why physicians are not reordering. For all I know its because Varithena isnt working!! In fact the company leaving the explanation to investors imagination is hardly clever. I am only in for a few K but wont be tempted until the board start understanding why investors like me are so nervous.
Further drop today which just wiped out my gains of yesterday. Still 560p is the resistant point at the moment. If it falls below that then the next one is at 520p. Still could double your investment at this price if the broker target is in the right ball-park at £10. http://www.iii.co.uk/articles/270237/btg-still-worth-tenner-after-warning
At this rate maybe the BOD's incentive scheme needs an overhaul. we have not much out of this company other than the old Grace Brothers type of communication You are all doing very well etc. I see Invest have been lightening up maybe they too are beginning to wonder who the company is being run for.
Hopefully a good grab for you slipperyslope. My issue is this company trades at a PE of over 60 so major increases in T/O and profit are already priced in and some of their excuses smack a little bit of inexperience of how long its takes to get these products earning a decent revenue stream. Purely anecdontal opinion on my part.
The revenue for this company is up year on year over last 5 years and this year again is going to be better than the last. Looks good to me. As Jefferies point out sp had already taken this all in to account over last 6 months. I grabbed some of these on the 15% drop and happy to hold now.
This company more and more is claiming jam tomorrow. For example the reason given for a reduction in the use of the snake venom antidote feels like they are really stretching reason here.
market just does not like this company or its management it would seem
Price currently down over 10% from yesterday's close after the close period update announced that revenues would be in the lower half of guidance range. Jefferies expects price to fall 5% but keeps "buy" recommendation on basis that share price is already discounted.
Jim, is there anybody out there?
Heard on World Service Medicine Sans F supplier of anti venom packing it in due it being uneconomical to produce - remember what Prosthetics used to knock out? There you go....
What a contented bunch we are. However, a question. Will BTG ever be dishing out dividends?
as seems very under valued. Much in the pipeline here and always the T/O possibility so may top up on any more dips.
The saying sell in May and don't return until St. Leger day fits this share to a tee.
share price way south of what it should be. Not sure of the reasons why. Broker have it T £9.00 plus. Hopefully things will change and we see a steady rise towards the year end.
It has been a true dog of late! Directors use it as a csh machine while investors are sitting on dead money it would seem. Unless of course the shares are being held down in preparation for a low-ball bid. Maybe of held thenm too long and am beginning to hallucinate.
Many thanks for that sound info. Sand castles in the sky
If I'd been making sandcastles for the length of time I've held these shares, there'd be no sand left on the beach! IMHO I think the future (long term) prospects depend very much on any growth in sales of Varithena in the US, which is far from certain at present. Foam sclerotherapy is not an established therapy in America (yet) and it has to compete with some proven and effective modern minimally invasive techniques such as laser treatment and radiofrequency ablation. It's going to be a while yet before we know whether Varithena can gain a foothold over there. I've come this far so I'm sticking with it, for now.
Not much info on btg, has everyone buzzed off to Tenby to make sandcastles?
Narberth, Clynderwen, Tenby! Could it be that Upper Cwm Twlch is in on this? This could call for another glass or two of snakebite.