Instem Share Discussion Threads

[p1nkfish] 11/4/2018 15:42

Fingers crossed.

[jinxo777] 11/4/2018 13:22

Very difficult to buy in any decent size - it looks like this is going to motor through 350p.

[p1nkfish] 27/3/2018 08:17

Very useful upside potential. Like the SaaS moves and potential for good margin upside and SEND will grow. Have a good entry price average and hold enough but if I didnt would look to buy on any weakness. Target > £3 by some margin imho.

[p1nkfish] 26/3/2018 07:26

So far so good, was at least right about SEND. Carry on like this, with tight holdings, and it will move up nicely. One to hold.

Note the SEND growth, sweet spot.

"Dated Dec 18, 2017.

This is important, a positive development.
I wouldn't suggest BUY but certainly do some more digging. It's now mandatory outside of previous mandatory limits. Should do INS a big favour as they have extensive exposure and capabilities.

[p1nkfish] 07/3/2018 13:33

Up 25% today at mo and pbb dead.
This is what I like.

Another one that will pop one day - UBISENSE.
I expect it to be about 2.4x where it is to buy today.
Timing is the issue, it could take 18-24 months or happen by the summer.
They are making some sensible moves by the looks of the news.

[p1nkfish] 07/3/2018 07:26

Very good news on the SaaS front. It will help revenue visibility, margins and bring down barriers to entry for new signings. Good.

[2niffy] 14/2/2018 10:10

Typical exit multiples in this space of between 10 and 15x ebitda. Instem forecast of 3.6m ebitda for 2018 equates to 2.26p 10x or 3.40p at 15x and that doesn't include the 3m of cash, circa 19p a share, which I net off given pension fund defecit of 4.2m.

[p1nkfish] 23/1/2018 16:12

Video on proactive investor, Phil Reason.

[p1nkfish] 23/1/2018 16:11

Looks sensible if sold as a bolt-on to a CRO that offers Instem along with other services. Sooner or later it will be bought.

[2niffy] 23/1/2018 10:24

Summary of paid for broker research.Last 5 years expanded addressable mkt by acquisition and investment, funded with cash from 175p float in 2010 and 200p placing in 2016.Next 5 years expand addressable mkt by acquisition and investment in services. Acquisitions likely to cost between 10 and 15x ev/ebitda v's Instem rating of 8.5x. Dilutive! Will require more equity funding!Investment in services expected to impact short term profitability.Conclusion. Shareholders haven't been rewarded for 'buy and build' strategy for last 5 years why will we going forward?Shares do look cheap but company too small, better suited to private equity or part of a larger group.

[p1nkfish] 22/1/2018 22:23

Worth a read.

[p1nkfish] 16/1/2018 17:14

Yep. Potentially very sweet spot in the life sciences and pharmaceutical markets.

[p1nkfish] 08/1/2018 19:07

Very good news - China - no one interested, small sell then slightly bigger buy.

[p1nkfish] 07/1/2018 12:39

If 3%+ holders don't sell then a reasonable buying pressure will push this higher.
The 3% brigade holds about 87%.

About 2.065M shares outside 3% holders.

It will recover and I think the recovery rise could be quite raid, just don't know when.

[p1nkfish] 20/12/2017 07:49

I think it will turn the corner.

Below was from spring 2017 and with SEND coverage increased by FDA that can only help as pre-clinical increases begin to feed through with a 3-6 year lag. 2014 return of growth suggests some benefit to show 2017 onwards.

Progressive Research (not independent) made the interesting observation below in their most recent analysis. Find out soon if true. If it does come about then INS should see some response in future results.

"It is also worth noting that growth in the global volume of pre-clinical studies was depressed during the period 2010-13. Hindsight shows this to have been a LEAD INDICATOR of softness in Clinical during 2016. Citeline data shows GROWTH in pre-Clinical RETURNED in 2014 and has been SUBSEQUENTLY ROBUST. To us this SUGGESTS the outlook for Clinical will be supported by a MORE FAVOURABLE industry BACKDROP over the near term."

[p1nkfish] 20/12/2017 07:22

Dated Dec 18, 2017.

This is important, a positive development.
I wouldn't suggest BUY but certainly do some more digging. It's now mandatory outside of previous mandatory limits. Should do INS a big favour as they have extensive exposure and capabilities.

[red ninja] 19/12/2017 12:33

Artemis Aim VCT (Annual Financial Report for the year ended 30 September 2017) :-


Instem plc too has had a rocky twelve months. The Food and Drug Administration ("FDA") in the US has in recent years mandated the adoption of electronic regulatory submissions and Instem, as experts in the field, look well placed to benefit. The market however is still embryonic and in the meantime the more established early stage clinical business has seen trading deteriorate. We are confident that in time trading will improve but patience will be required

[p1nkfish] 12/10/2017 20:41

Seeing growing demand for CSM.

[p1nkfish] 26/9/2017 07:36

A few hints in the interim that I like.

[p1nkfish] 26/9/2017 07:36

Interim out. First half hit due to changes but 10% cut in costs going forward to show h2 onwards. Nothing surprising. Positioned well in my opinion and will begin to deliver on acquisitions and cost cuts made. Bumpy no doubt.

[p1nkfish] 16/5/2017 08:42

Clinical was the drag, x-Clinical was positive.

Progressive Research (not independent) made the interesting observation below in their most recent analysis. Find out soon if true. If it does come about then INS should see some response in future results.

"It is also worth noting that growth in the global volume of pre-clinical studies was depressed during the period 2010-13. Hindsight shows this to have been a LEAD INDICATOR of softness in Clinical during 2016. Citeline data shows GROWTH in pre-Clinical RETURNED in 2014 and has been SUBSEQUENTLY ROBUST. To us this SUGGESTS the outlook for Clinical will be supported by a MORE FAVOURABLE industry BACKDROP over the near term."

[p1nkfish] 01/5/2017 23:19

Possibly. If get chance. Travel a lot, in out of UK until 3rd week Dec.

[brummy_git] 29/4/2017 17:23

Thanks p1nkfish - Maybe you should?

[p1nkfish] 29/4/2017 17:02

Never met them Brummy.