leadf
logo-loader
viewOpen Orphan PLC

Open Orphan target of 19p repeated by finncap after bullish update

“We leave forecasts unchanged, but with room for upside depending on uptake of the COVID-19 test.”

Open Orphan PLC -

 Open Orphan PLC (LON:ORPH) should be able to generate cost savings of €7.5m by year-end 2020, according to broker finncap.

Allied to a strong pipeline of work to build revenues in the second half of 2020 that should enable the business to reach operational profitability by the third quarter of this year.

“We leave forecasts unchanged, but with room for upside depending on uptake of the COVID-19 test, and reiterate our target price of 19p,” it said.

The company had earlier said it was targeting operational profitability by the third quarter of the year following its merger with hVIVO.

The enlarged business, which provides outsourced services for the life sciences industry, said it was also expecting to remove a further €2.5mln in costs in the second half of the year.

In an update alongside its full-year results, Open Orphan talked of “unprecedented growth opportunities as pharma focuses funding on Covid-19 and respiratory diseases”.

Quick facts: Open Orphan PLC

Price: 25.2 GBX

AIM:ORPH
Market: AIM
Market Cap: £168.35 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Open Orphan PLC named herein, including the promotion by the Company of Open Orphan PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Market Report: FTSE gains as hopes rise of UK and France solving port chaos

FTSE 100 edged higher as France and the UK said they were near to ending the freight ban which has led to hundreds of lorries queuing outside Dover. London’s blue-chip index added 13 to 6,429 in spite of rising concerns over the new strain of COVID-19.   Mixed news for the UK economy...

3 weeks, 6 days ago

2 min read