Share Name Share Symbol Market Type Share ISIN Share Description
Horizon Discvry LSE:HZD London Ordinary Share GB00BK8FL363 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.50p +0.29% 175.00p 226,083 16:35:04
Bid Price Offer Price High Price Low Price Open Price
168.50p 172.00p 172.00p 167.00p 172.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 24.1 -12.5 -12.1 - 260.91

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Date Time Title Posts
04/3/201812:02Horizon Discovery Ltd - Genomic translation 931
23/7/201414:43Alan Green says to BUY and HOLD in Horizon-

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Horizon Discvry (HZD) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-03-16 16:35:04175.002,1513,764.25UT
2018-03-16 16:31:03168.5015,00025,275.00O
2018-03-16 16:29:52168.50239402.72AT
2018-03-16 16:29:25168.50199335.32AT
2018-03-16 16:20:05172.009191,580.68AT
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Horizon Discvry Daily Update: Horizon Discvry is listed in the Health Care Equipment & Services sector of the London Stock Exchange with ticker HZD. The last closing price for Horizon Discvry was 174.50p.
Horizon Discvry has a 4 week average price of 167p and a 12 week average price of 163.25p.
The 1 year high share price is 295p while the 1 year low share price is currently 160p.
There are currently 149,091,182 shares in issue and the average daily traded volume is 105,626 shares. The market capitalisation of Horizon Discvry is £260,909,568.50.
mamcw: On further enquiries, it does seem that this was a boardroom bust-up. What's intriguing is that normally when you lose a CEO of 11 years' standing who is the driving force behind the company, the share price tanks. Instead, it has rallied today. Makes you wonder what is really going on - a potential bidder? Numis apparently being very economical with any information. DYOR
gnnmartin: I've just looked again at the interim presentation and the pre close update, and noticed that we seem to have gone from "FY17 guidance ... • Group EBITDA approximately break-even before exceptionals and discontinued operations" in the half year presentation to "The Group expects that reported EBITDA before exceptional items and discontinued operations for the full year will be in line with the analyst consensus forecast loss of (£1.7) million" in the pre close RNS. I guess that with the weakness in the markets generally explains the share price fall.
xippy: They have clearly got the placing away with city institutions. These boys don't generally trade for a quick buck. If we've got serious ii interest then current rise in share price speaks volumes of where they see the company going. A large placing and the share price rises by 25% is great news. Lots of ii's have confidence in this. I'm locking my shares away and will look at them periodically. Personally I expect some further gains and eventually good dividends. Imho, Dyor
kestelmill: Was the share price of the placing of new shares mentioned? I didn't see it...
mirabeau: From today's FT (along with OXB and AGY) Horizon Discovery Another biotech that is seeing a rapid growth in revenues is Cambridge-based Horizon Discovery, which has become a world leader in the application of gene editing using techniques such as Crispr (clustered regularly interspaced short palindromic repeats), a cut-and-paste procedure that can be used to snip out pieces of DNA. The company which, in the words of its chief executive, Darrin Disley, “went from IP to IPO” in 2014, is now on course to be profitable on the back of expected revenues of £30m to £35m in 2017. It recently announced it was working with three unnamed clients on pre-clinical development of a variety of gene and cell therapy treatments in areas of high unmet medical need. The work is expected to contribute more than $2m in revenue in 2017. Horizon is also working on cell therapy projects in areas such as immuno-oncology, autoimmune diseases, rare genetic conditions, metabolic, neurological and blood disorders. Mr Disley says the company can help address “the biggest problem with modern healthcare”: an ageing population, suffering from diseases such as Alzheimer’s, which have a genetic basis. “We need to solve those problems if the healthcare model is going to be viable moving forward,” he adds. Group revenue increased 19 per cent, to £24.1m, in 2016 and sales rose 25 per cent year on year in the first quarter of 2017. Horizon’s share price has climbed from 150p in June 2016 to a recent peak of 220p in May, though it has since fallen back to sit nearer 200p. Numis Securities noted this month that another gene therapy specialist, Sangamo, had recently secured a collaboration agreement with Pfizer, with a $70m upfront payment and $475m in future milestone payments. With this deal “the potential strategic value of Horizon’s gene-editing capability is becoming more apparent”, it said. -
mamcw: HZD have updated the consensus analysts forecasts on their website £32m t/o, but the consensus is still for a small EBITDA loss this year; so hopefully some room for upgrades on the basis that management achieve their much stated objective of being EBITDA positive this year. Target share price of 226.5p
mamcw: Interesting couple of Articles. First is from Motley Fool (Yahoo Finance): One thing you can definitely say about Neil Woodford is that he's not afraid of taking a blue-sky risk on companies that are not yet profitable -- especially in the healthcare and biotechnology field. Horizon Discovery (LSE: HZD) is one, and though it only accounts for a tiny portion of his CF Woodford Equity Income Fund, he holds a number of similar picks. I reckon Mr Woodford's approach to blue-sky growth is sensible. It's a very high risk strategy, and having a basket of different stocks should greatly improve your safety -- and, after all, you really only need one or two to come good. Horizon is into the very exciting field of therapeutic gene editing, and this month told us it "has gained exclusive worldwide rights to use a novel transposon-based technology platform that will broaden Horizon's gene editing capabilities," which was co-invented by its own head of innovation. It's mainly funded by downstream royalty payments, so shouldn't impact the cash position too much in the short term. Jam soon? Full-year results released Tuesday revealed a 19% rise in revenue to £24.1m, including a 45% rise in product revenue to £11.3m, and a gross margin boosted to 54%. So while there's no profit yet (and none forecast for the next two years -- though losses per share should be getting close to break-even before too long), I think these figures do provide appealing promise of profits within the next few years. There are no meaningful fundamental ratios here, but if you're prepared to take a bit of a punt, I see Horizon as having attractive potential. The second is from a Numis note, which comments on how some of Horizon's competitors in the US (which are much more highly rated and riskier in terms of cash burn), might be about to blow up: A story on entitled "CRISPR Gene-Editing Can Cause Hundreds of Unexpected Mutations", previews an upcoming paper in the high profile Nature Methods journal by Stephen Tsang. In the paper, Tsang conducted whole genome sequencing on mice that had undergone gene editing to correct a gene that causes blindness. While the gene was indeed corrected,hundreds of other changes were noted at unexpected areas in the genome and that would not have been detected by current quality control processes. With human trials already underway in China, and soon to be initiated in the US and UK this finding raises concerns. Horizon has long cautioned over these off-target effects of CRISPR, finding the more precise (but expensive) AAV method of gene-editing is far more precise. Each technique has its strengths,and in having access to all the key methods, Horizon is well positioned to benefit as biopharma customers seek a better understanding of the risks and benefits of the different methods. Horizon's strategic value as a leading gene-editing company is not reflected in the current valuation with several very early-stage gene, and cell therapy companies valued at multiples of HZD. However HZD is playing the long game: in contrast to mainly US peers that are likely to suffer high rates of clinical attrition (safety/efficacy) and/or run out of money. The update on CRISPR may have serious long term consequences for this companies, but will be helpful for companies needing higher quality services, and better validated products that Horizon is renowned for. Numis have reaffirmed their BUY stance with a 262p target share price.
kestelmill: I was on a long train journey on Friday so used the time to have a good look at all the reports and interims of HZD to work out what is going on here. These are my conclusions and thoughts. 1) The last interim gave revenue guidance of £24-26M but also said that revenues would be reduced by £2.7M in 2016 due to restructuring. This was effectively a profit warning - analysts were expecting more like £27-29M revenue and associated profit (loss) - and that is why the share price went down so much. 2) There is a restructuring process and an initiative to make £5M cost savings (£3M from closing down Boston). There is significant execution risk attached to this. 3) CEO has stated EBITDA will be positive in 2017. This reads as, EBITDA will be more than £0, but not by much. Analysts may well have been expecting more. 4) Even if positive EBITDA is achieved, there was £7.4M depreciation and amortisation in 2015. We can expect similar or higher figures every year for many years to come. This means HZD has to make >£8M EBITDA to truly break even on their P+L. Note there are £48M of Goodwill and intangible assets currently on the balance sheet; it looks like they are amortising over 10 years. 5) HZD has a strong technology licence position in gene editing but since the environment and, in particular, Crispr technology is still evolving and has an unclear IP situation, they may have to invest further in the future to protect their position. Also, they may have to, or decide to (since they are acquisitive), do further acquistions. This would create further complexity/risk. 6) There are clear current issues with service revenues. The stream of RNS telling us they have new business is reassuring - but these cannot be material to the revenue situation or they would have said so in the RNS. The company makes £20M revenues so you would expect some wins in the course of their ordinary business. On the other hand: a) they should be cash generative from 2017 b) these are growing markets and technologies which are yet to be fully realised c) they are very well positioned in gene editing and NGS d) there are potential additional upsides in the shape of Avvinity and the £200M+ of future royalties (although I am not putting any value on these at present) If HZD can grow revenues 25% for the next 3 years they will easily justify their current valuation. I believe they can do this so my overall conclusion is that this remains a good investment at the current share price
kestelmill: Don't forget this share price should have been going up due to exchange rate benefits, having most sales in EUR and USD and repatriating to GBP. So actual share price performance has been even worse than it looks. You could be excused for wondering if some bad stuff is going on at the company that people like us aren't aware of. But actually the share price went down sharply on the latest report that service revenue had stalled and the company was still loss-making. I still believe the company is a decent product play and the service revenue issue could be a blip due to moving some of the capabilities to Cambridge from USA. Anyone close to the company got any insights?
kestelmill: HZD releases favourable news all the time, so we may have to wait a while for the market to love this stock. However, if the results are good the share price will rise. I believe HZD have a very compelling offering in a number of areas, not least NGS standards, and that the revenues will follow, and with it the rise in share price. Also as a startup that has grown rapidly there is no doubt loads of fat in this business that can be stripped out.
Horizon Discvry share price data is direct from the London Stock Exchange
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