"Sanderson fits the bill for investors looking for a combination of accelerating growth potential, healthy cash generation and growing dividends. This is a long-established provider of high quality ERP and retail systems to SMEs that has a good level of revenue visibility (50% recurring revenues and a £3.2m order book) and a strong IP base that includes connected retail and specialist solutions. Management has a clear and, in our view, highly achievable three-year plan for significant value creation and increasing returns to shareholders. Our revenue and margin targets represent sensible hurdles, while the current valuation is undemanding given the significant re-rating potential offered by growth in the Digital Retail business." N+1 Singer note out today on research tree
"Verona Pharma is at an exciting stage of its development with a new proprietary suspension formulation of its first-in-class RPL554. The proposed £44.7m equity capital raise announced Friday, supported by group of US and EU healthcare focused funds, enables the group to progress its development of RPL554 through to a Phase III ready stage. If development goes according to plan, RPL554 could be in a position to commence Phase III trials by the end of 2018." N+1 Singer's note out this morning on Research Tree
"Sanderson fits the bill for investors looking for a combination of accelerating growth potential, healthy cash generation and growing dividends. This is a long-established provider of high quality ERP and retail systems to SMEs that has a good level of revenue visibility (50% recurring revenues and a £3.2m order book) and a strong IP base that includes connected retail and specialist solutions. Management has a clear and, in our view, highly achievable three-year plan for significant value creation and increasing returns." N+1 Singer note out this morning on Research Tree
N+1 Singer note out this morning: Our site visit with investors to Manchester HQ and Burnley DC highlighted very clearly management’s growth ambitions for the Boohoo brand and the expansion plans being implemented. The next major phase of warehouse expansion will increase sales capacity to £0.8bn (4x FY16 sales) and this will likely provide the headroom until FY24. Expansion will likely include the acquisition of PLT too though. This will shorten the time horizon for reaching capacity on the expansion timetable but EPS accretion could be 10-15% including sav..." taken from Research Tree
"The negative results from Circassia’s (9.3% owned by Innovations) Cat-SPIRE Phase III trial is disappointing, with a negative read-across to Circassia’s earlier-stage programmes in Grass, Birch, Ragweed, and House Dust Mites allergy. We highlighted the Cat-SPIRE result as a significant risk factor in our recent report ‘Premium justified, but some near-term caution’ on 27th May. However, we continue to believe that Circassia’s respiratory development portfolio (acquired with the £100m acquisition of Prosonix) has significant..." note out by N+1 Singer this morning, on research tree
"The licensing agreement for Southeast Europe is in line with the company’s regional licensing strategy and represents a further step towards global commercialisation of CSD500, the company’s novel erectogenic condom. We are looking forward to multiple launches of CSD500 by partners over the coming year." N+1 Singer note out this morning on Research Tree
"Filtronic’s FY trading update features a strong H2 sequential result with Wireless +274% as the standout performance. In addition to the sequential revenue growth, we are encouraged on many fronts and to reflect this we have elected to tentatively reintroduce 2017E forecasts to better reflect H2/2016 progress and the current order book. The uncertainty of the last year, the management changes, the fund raise, move to AIM and the restructuring have all impacted the share price." Panmure note out this morning on Research Tree
"Chi-Med has announced the initiation of a Phase II expansion of the ongoing TATTON trial (NCT02143466) to evaluate the selective c-Met inhibitor savolitinib (AZD6094) in EGFR mutant non-small cell lung cancer (NSCLC) patients. The announced initiation of expanded Phase II trials in NSCLC triggers US$10 million milestone from AstraZeneca to Chi-Med." Panmure note out this morning on Research Tree
"TR European Growth Trust (TRG) holds a diversified portfolio of European (ex-UK) small and mid-cap companies, with the aim of achieving long-term capital appreciation. Set up in 1990, the trust has been managed by Ollie Beckett (assisted by Rory Stokes) at Henderson Global Investors since July 2011, over which time it has comfortably beaten the benchmark Euromoney Smaller Europe ex-UK index in share price and NAV total return terms, as well as outperforming larger-cap European stocks and the FTSE All-Share index." Edison note out this morning on Research Tree
finnCap note out this morning on Research Tree: "SacOil’s new management team has delivered on its new strategy over the past two years: the company has successfully developed its first production project, which has the ability to generate substantial value as the project is expanded further; it has also built up an extensive exploration portfolio across three countries. Furthermore, SacOil is active in the downstream and is examining multiple project-led opportunities to expand its presence and ability to create value."