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    APPH   DE000A3CMGM5

APONTIS PHARMA AG

(APPH)
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Apontis Pharma (APPH): Initiation - A phoenix rises

05/14/2021 | 02:01am EDT
Edison Investment Research Limited 
Apontis Pharma (APPH): Initiation - A phoenix rises 
14-May-2021 / 07:00 GMT/BST 
=---------------------------------------------------------------------------------------------------------------------- 
 
London, UK, 14 May 2021 
 
Apontis Pharma (APPH): Initiation - A phoenix rises 
Apontis Pharma is a speciality pharma business aiming to leverage its commercial heritage in Germany and deliver on its 
rapid growth ambitions. The company has carved out a sizeable niche for its 'single pill' products, which are 
combinations of commonly co-prescribed generic drugs that have been reformulated into in one branded pill (2020 sales 
of EUR19.0m). Alongside the 'single pill strategy', Apontis also has co-marketing agreements for several branded drugs 
(2020 sales of EUR16.6m). It is the increasing mix of the higher-margin single pills that we believe should benefit 
current operating leverage and provide the foundations for an enticing margin story. Apontis shares were placed at 
EUR19.0/share, raising gross proceeds to the company of EUR38m, translating to an enterprise value (EV) of c EUR145m. 
 
Consensus is not yet available for Apontis, but based on management's FY21 revenue guidance of EUR48.5m, the shares are 
priced at c 3.0x EV/sales, within the range for established peers, but at a c 8% discount to the average for the group. 
Broader recognition of its double-digit sales growth potential, coupled with the potential for a strong margin story 
underpin the momentum. 
Click here to view the full report or here to sign up to receive research as it is published. 
 
All reports published by Edison are available to download free of charge from its website 
www.edisongroup.com 
About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the 
widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, 
family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the 
darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. 
Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. 
Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in 
Athens, Johannesburg and Sydney. 
Edison is authorised and regulated by the Financial Conduct Authority. 
Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not 
solicitations to buy or sell any securities. 
For more information, please contact Edison: 
Dr Sean Conroy +44 203 077 5700 healthcare@edisongroup.com 
Dr Jonas Peciulis +44 203 077 5728 healthcare@edisongroup.com 
Learn more at www.edisongroup.com and connect with Edison on: 
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=---------------------------------------------------------------------------------------------------------------------- 
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 

1196401 14-May-2021

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1196401&application_name=news 
 

(END) Dow Jones Newswires

May 14, 2021 02:00 ET (06:00 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
0X (ZRX/USD) 6.02% 0.74875 Real-time Quote.101.21%
APONTIS PHARMA AG 0.76% 19.85 Delayed Quote.0.00%
DJ INDUSTRIAL 0.44% 35084.53 Delayed Quote.14.55%
All news about APONTIS PHARMA AG
07/28APONTIS PHARMA : reports accelerated growth in first half of 2021 - Single Pill ..
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07/28PRESS RELEASE : APONTIS PHARMA reports accelerated growth in first half of 2021 ..
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07/28Apontis Pharma AG Provides Earnings Guidance for the Financial Year 2021
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07/28Apontis Pharma AG Announces Unaudited Preliminary Earnings Results for the Fi..
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07/12PRESS RELEASE : APONTIS PHARMA marks further success in the roll-out of Single P..
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07/12APONTIS PHARMA : marks further success in the roll-out of Single Pill therapy
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06/18PRESS RELEASE : APONTIS PHARMA AG: Initial studies confirm that the share has a ..
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06/18APONTIS PHARMA AG : Initial studies confirm that the share has a price potential..
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06/10PRESS RELEASE : APONTIS PHARMA AG: Post-Stabilisation disclosure - Partial exerc..
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06/10APONTIS PHARMA AG : Post-Stabilisation disclosure - Partial exercise of the Gree..
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More news
Financials
Sales 2021 48,7 M 57,8 M 57,8 M
Net income 2021 2,90 M 3,45 M 3,45 M
Net cash 2021 28,8 M 34,2 M 34,2 M
P/E ratio 2021 57,5x
Yield 2021 -
Capitalization 167 M 199 M 199 M
EV / Sales 2021 2,85x
EV / Sales 2022 2,40x
Nbr of Employees 195
Free-Float -
Chart APONTIS PHARMA AG
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Apontis Pharma AG Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 19,85 €
Average target price 36,00 €
Spread / Average Target 81,4%
EPS Revisions
Managers and Directors
Thomas Milz Chief Product Officer
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