Investor's Digest Online update from February 28, 2000
STRONG RESULTS SIGNAL 50% GROWTH
First-quarter financial results for Axcan Pharma (AXP-TSE) included revenues of US$26.9 million, almost $6 million above expectations.
As a result, analysts Cameron Groome and Kenrick Sylvestre, of National Bank Financial, are maintaining their buy recommendation while increasing their target price to $18.
This, they tell IDOnline, suggests a 50-per-cent upside from current share-price levels over the next 12 months.
Axcan acquires, develops and markets products for gastroenterology, including treatments for bowel, kidney, liver, lung, pancreatic and stomach disorders.
It is now experiencing, say Messrs. Groome and Sylvestre, solid sales growth, strengthening EPS, improved in-licensing prospects and growing international interest.
Shares were trading this morning at $11.20. |
