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Broker tips: Johnson Matthey, Victrex, Evolution

Tue, 19th Jul 2011 12:07

Prime Markets has suggested buying chemicals group Johnson Matthey, saying that Tuesday's trading statement represents an attractive entry point in the short and long term for investors.The company, focused in catalysis, precious metals, fine chemicals and process technology, said that it continued to make good progress in the first quarter, with adjusted pre-tax profits up by 19% to £98.2m, "principally due to higher demand for products and operational leverage," noted head of dealing Richard Curr."Now at an attractive entry point as the shares bounce off the all important 200-day moving average line, there is a short term momentum trade opportunity off the back of today's statement to upper resistance levels up to 2,100p over the next few days."Prime Markets gives the group a 2,123p target price.After raising its earnings forecasts for plastics group Victrex, UBS upgraded plastics the firm to neutral, from sell, saying that it has strong growth and profitability prospects.The broker notes that metal replacement is becoming increasingly important as companies seek alternatives which are recyclable, reduce weight and fuel consumption: "Victrex PEEK polymers satisfy these criteria."UBS raised its target price from 1,320p to 1,500p.Peel Hunt reiterated its buy recommendation on investment house Evolution Group as the company announced the potential acquisition of BNP Paribas Private Investment Management."The earnings mix of the group is shifting towards being led by the Wealth management division (we forecasts 52% of revenue from that source for 2011 up from 47% as at 2010). This acquisition only adds to this proportion and as this continues the group should begin to trade on a higher multiple," said analyst Henry Biddle.A target price of 86p was kept.BC
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IN BRIEF: Evgen SFX-01 granted orphan drug designation by US FDA

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13 Jul 2021 15:36

Evgen pleased with preclinical data on SFX-01

(Sharecast News) - Clinical-stage drug development company Evgen Pharma announced preclinical data demonstrating that 'SFX-01' was effective in in-vitro models of certain blood cancers on Tuesday.

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13 Jul 2021 14:09

IN BRIEF: Evgen Pharma files brain tumour treatment request with FDA

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13 Jul 2021 11:25

IN BRIEF: Evgen Pharma encouraged by early data for SFX-01

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AIM WINNERS & LOSERS: Star Phoenix wins new deal; Ebiquity revenue up

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9 Jul 2021 11:51

Evgen Pharma halts trial as SFX-01 drug fails to help Covid patients

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9 Jul 2021 10:52

AIM WINNERS & LOSERS: Evgen disappointed as SFX-01 flops study hurdle

AIM WINNERS & LOSERS: Evgen disappointed as SFX-01 flops study hurdle

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9 Jul 2021 10:33

Evgen 'surprised and disappointed' by findings in SFX-01 trial

(Sharecast News) - Clinical-stage drug development company Evgen Pharma announced the results of the interim safety and futility assessment readout of the first 100 patients treated in the 'STAR' Covid-19 trial of its lead asset, 'SFX-01', on Friday.

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6 Jul 2021 16:10

UK shareholder meetings calendar - next 7 days

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15 Jun 2021 14:42

TRADING UPDATES: GB Group rebuilds dividend; IPF ups 2021 profit view

TRADING UPDATES: GB Group rebuilds dividend; IPF ups 2021 profit view

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14 Jun 2021 13:19

TRADING UPDATES: Synectics loss narrows; Active Energy loss widens

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14 Jun 2021 11:00

Evgen upbeat on new data on potential breast cancer treatment

(Sharecast News) - Clinical-stage drug development company Evgen Pharma announced new preclinical data on Monday, which showed 'SFX-01' could be of benefit to metastatic breast cancer (mBC) patients who had become resistant to CDK4/6 inhibitors.

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26 Apr 2021 13:02

IN BRIEF: Evgen Pharma appoints Huw Jones as chief medical officer

IN BRIEF: Evgen Pharma appoints Huw Jones as chief medical officer

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7 Apr 2021 16:22

IN BRIEF: Evgen Pharma notes publication on sulforaphane in Covid-19

IN BRIEF: Evgen Pharma notes publication on sulforaphane in Covid-19

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