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BTG rallies as RBC hails long-term growth prospects

Tue, 15th Dec 2015 13:58

(ShareCast News) - RBC Capital Markets initiated coverage of specialist pharmaceutical company BTG at 'outperform' with a price target of 820p, saying it should be a long-term holding.It said the shares have underperformed materially over the past year and, while medium-term market expectations are still ambitious, the potential near-term approval of RePneu in the US and BTG's long-term growth prospects are fundamental reasons to own the stock.RBC said the stock weakness has been almost entirely associated with the weak launch of the company's varicose vein product, Varithena, but now presents an opportunity as the factors behind the selloff are being resolved and are short term."Given the advantages of this product over current technologies, we continue to believe Varithena could exceed management's $500m revenue target," it said.RBC said BTG's RePneu - a memory coil for emphysema which could provide another option for patients on top of pharmaceuticals and an alternative to lung volume reduction surgery - is also critical and overlooked."With management still planning to submit RePneu for FDA approval in 2016, we remain optimistic for approval by end-2016, which should lead to a material re-rating."At 1403 GMT, BTG shares were up 6.6% to 664.50p.

More News

2 Apr 2015 08:51

BTG expects higher annual revenue, hikes guidance for 2015

Healthcare group BTG said it expected annual revenue to be "slightly" higher than indicated earlier this year. The FTSE 250 group said expected revenue for the year ended 31 March would be above the previous guidance it provided of £345m to £360m, including revenue from the PneumRx acquisition it co

2 Apr 2015 07:25

LONDON MORNING BRIEFING: M&S UK Performance Beats Hopes

2 Apr 2015 06:37

MARKET COMMENT: FTSE 100 Seen Lower; Oil Prices Came Down Overnight

2 Apr 2015 06:23

BTG Says Revenue To Beat Hopes, Continue Growing Strongly

1 Apr 2015 10:59

BTG starts selling its products to European hospitals

Healthcare company BTG said it started selling its drug-eluting bead and embolisation products to customers in 11 European countries. The products, DC Bead and Bead Block, will be sold directly to hospitals in Austria, Belgium, France, Germany, Ireland, Italy, Netherlands, Portugal, Switzerland, Spa

1 Apr 2015 07:18

LONDON MORNING BRIEFING: M&A In Focus In Mid-Cap Sector

1 Apr 2015 06:45

BTG Starts Direct Sales Of DC Bead, Bead Block Products In Europe

19 Feb 2015 09:00

BTG Eyes US Investors With Launch Of ADR Programme (ALLISS)

5 Feb 2015 15:33

BTG boosts full-year guidance thanks to PneumRx acquisition

After currencies moved in its favour and the completion of a recent acquisition, healthcare group BTG has raised its guidance for full-year revenue. Full-year revenue is now expected to range between £345m and £360m, around 4% higher than the previous guidance of £330m to £345m. The FTSE 250 group

5 Feb 2015 15:15

BTG Increases Revenue Guidance On Acquisition, Currency Impact Reverse

4 Feb 2015 11:40

UK WINNERS & LOSERS: Hargreaves Lansdown Hit After Profit Drop

4 Feb 2015 09:41

UK BROKER RATINGS: Numis Cuts Hargreaves Lansdown To Add From Buy

8 Jan 2015 10:04

BTG confirms completion of US PneumRx pulmonology business

Specialist healthcare company BTG said it had completed its acquisition of US interventional pulmonology business PneumRx, which will cost the FTSE 250 group up to £315m. The acquisition had been conditional on the expiration or early termination of a waiting period under the Hart-Scott-Rodino Act i

9 Dec 2014 09:23

Tuesday broker round-up

Aberdeen: Cantor Fitzgerald initiates with a target price of 520p and a 'buy' recommendation. Aggreko: Jefferies reduces target price from 1810p to 1350p, downgrading to 'underperform'. Ashcourt Rowan: Cantor Fitzgerald initiates with a target price of 270p and a 'buy' recommendation. Ashmore: Can

5 Dec 2014 11:55

Friday tips round-up: DS Smith, BTG

Specialist packaging manufacturer DS Smith has proven adept at growing with its clients, acquiring rivals and moving into new niches and geographies. That has seen the company transformed from a maker of paper into a manufacturer of higher-margin specialist packaging. A case in point is the recent a

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