Btg Share Discussion Threads

[a1ord53] 20/5/2018 09:01

Deutsche Bank downgrades its investment rating on BTG PLC (LON:BTG) to hold (from buy) and cut its price target to 645p (from 810p

[cockneytrader] 18/5/2018 08:40

At x150 earnings, these are priced for perfection. Varithena is almost guaranteed to be culled, the numbers just don't add up! The CroFab will face serious competition from Anavip which will probably be significantly cheaper and just as efficient. The next few years will see revenue blips, although these will probably be less visible with the switch to US dollar reporting. £4 is fair value for now.

[cockneytrader] 17/5/2018 15:09

Agreed. Too much smoke and mirrors. However, I do hope to get back on board. In the meantime I will wait to see the outcome reference Varithena and CroFab. I am expecting writedowns for both products over the next 9 to 18 months. It was mentioned that BTG could purchase Anavip - this would be a coup, but unlikely due to competition issues.

[minerve] 17/5/2018 12:41

This company does not have US roots. It all started in the UK.

[ugandalad] 17/5/2018 12:35

Given the international nature of my UK shares and this companies US roots and sales positioning I don't think I care what currency they report in. If it increases the market in US that makes sense to me no matter what spin the dark side of the market thinks in between surfing the fashion pages. At the end of the day how they deliver on their pipeline and spend their cash to achieve that is what matters.However if they switch into the Chinese Yuan Renminbi can someone wake me up.

[cannyshoveyergrannyoffthebus] 17/5/2018 12:29

Minerve ,

Hopefully it is as a result of a US takeover in the wings .The Dames time is running out they need to close a deal within 2 years . I see this as the first steps . Like most Investors relation department they reply with what they think you want to hear .

[minerve] 17/5/2018 11:43

Are you suggesting they are going to "splash their cash" just because of a change in reporting currency?

[semper vigilans] 17/5/2018 10:07

I don’t care as long as the US based investors splash their cash.

[minerve] 17/5/2018 09:56

I don't buy those currency reporting arguments. Let's create a little smoke with mirrors. It is the timing that arouses my suspicions. Why now, after all these years? Andy Burrows then goes on to say "I also see it as an opportunity to make us a bit friendlier to US-based investors". Yes Andy, but we are UK investors, and by your inference you have just told us you are a little less friendlier to UK investors! LOL And this guy works in Investor Relations?

With many issues having a potential negative affect over the next 12 months I think I am starting to believe they are using this opportunity as a 'reset' and are muddying the ground for historical comparison. They have had plenty of years to change the reporting currency and they are doing it during the transition from licensed sales to product sales - where there may be a temporary drop in revenue and profits.

I am selling. My trade remains just that, a trade - a few notes gained for the FA cup weekend. I'll watch from the sidelines. Plenty of chance to buy back in.

Sometimes the little nuances may give you clues to what is ahead. I think the female analyst in the webcast was picking-up the same vibe as me.

She also sounded very foxy. ;)

[a1ord53] 16/5/2018 22:43

I dont trust Andrew and his boss Louise .
They camuflaged real numbers .

[bargainbob] 16/5/2018 19:51

From
Paul on eye eye eye

I contacted Andy re our serious concerns. He replied back to me yesterday.

Hi Paul,

Thanks for your email. Quite a strong share price reaction as you say, partly the analysts who didn't update after the April close period taking their revenues out for PneumRx for the next couple of years.

There is no rule about reporting currency, and actually it's very common in the healthcare industries to report in dollars. We are doing it because about 90% of current revenues are in dollars as you note and ~55% of costs, so we will take a lot of volatility out of our results as a result of foreign exchange translation effects. We have had a hedging policy to cover our future dollar cash flows, and by and large when you have seen losses on forward contracts you have seen roughly an equal gain on translation benefits - and vice versa.

There is no ulterior motive than reducing volatility in the results and using the common currency in healthcare. However, in my role I also see it as an opportunity to make us a bit friendlier to US-based investors, and would love to attract more of them. There are actually quite a few precedents of £ reporters converting, but that's not why we are doing it - it's for the above reasons. Every analyst I have spoken with has said it's a very sensible move, as have the institutional investors we have talked to about it.

You are absolutely right that we want to make our business more global...it's about where we started from. CroFab is a US-only product of course, and most of the companies we have bought have been VC-backed US-based businesses who focused strongly on their home market. So we have been investing in a number of things to lay the foundations for ex-US growth: setting up appropriate levels of commercial infrastructure in other areas such as EU and Asia, including some direct sales presence and an expanded distributor network. We have also been going through the necessary but time-consuming process of registering our products in the various territories. Then we have been planning our marketing etc. So it doesn't show in the result yet, but within a few years we should start to see a greater contribution from the EU and other geographies.

Kind regards,

Andy


Andy Burrows

Vice President, Corporate and Investor Relations.
BTG plc

[minerve] 16/5/2018 19:19

Nice bounce. Several hundred pounds made.

I will probably sell though. I have watched and listened to the webcast a few times and there is too much going on to make a decent informed opinion on downward risk.

I hate losing money. I don't mind missing out on gains.

PS. Can some expert accounts person tell me how one decides on the impairment split % between SG&A and IPR&D?

Thanks in advance.

[bargainbob] 16/5/2018 19:10

Good it bounced back .

[a1ord53] 16/5/2018 16:15

JPM CAZENOVE NEUTRAL AND TARGET REDUCED FROM 680p to 650p

[weatherman] 16/5/2018 13:20

The BTG stands for Bunjee Technology Group.

[cryptotrade] 16/5/2018 13:11

Looks like a good short term trade.

[bargainbob] 15/5/2018 17:39

So next few days will be interesting , normal play back to £6.50 or will the down turn to £5 happen . The Dames dreams lay in tatters for a FSTE company by 2020.

[minerve] 15/5/2018 14:57

AND Jefferies International 15/05

Reiterates Buy TP 900.00p

Shore Capital 15/05

Reiterates Buy

[steeplejack] 15/5/2018 14:45

Peel Hunt reiterated its Hold rating on BTG saying the healthcare firm's growth outlook is disappointing, and it sees better growth opportunities...

[cantrememberthis2] 15/5/2018 12:40

Oversold I'm in 635p bounce

[cannyshoveyergrannyoffthebus] 15/5/2018 12:36

will it bounce when the USA opens .