Target Price for Sirona Biochem (SBM:tsxv) 0.98$

sirona-lab

Sirona Biochem (SBM:tsxv) Gets BUY Rating : Target Price CAD 0.98$

– Momentum Public Relations –


Yesterday, First Berlin Equity Research published a research update on Sirona Biochem Corp. (SBM:tsxv). Analyst Ellis Acklin reiterated his BUY rating and increased  the price target from CAD 0.90 to CAD 0.98.

This is an abbreviated summary. The full text of this story (including disclosure) is included below.

Abstract:
Sirona Biochem Corp. (Sirona) published annual results for the year ended 31 October 2015. Results were largely in line with our forecasts. The company continues to communicate confidence in the signing of a new agreement for its promising skin lightening treatment TFC-1067. We see this as a potential watershed event for the company. Potential upfront, milestone and royalty payments harbour significant upside for Sirona once a deal is sealed. After recalibrating our forecasts and model, we raise our price target to C$0.98 (previously: C$0.90) and reiterate our Buy rating.

 

Financial Forecasts:

2013

2014

2015

2016E

2017E

2018E

Revenue (CADm)

0.00

0.21

0.01

0.38

8.79

21.45

EBIT (CADm)

-2.64

-3.48

-3.48

-3.20

5.13

17.69

EPS (diluted) (CAD)

-0.03

-0.03

-0.03

-0.01

0.02

0.07

FCF (CADm)

-2.62

-2.09

-3.18

-2.88

2.76

10.88

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