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Risk Warning
25/05/2011
Shares in BTG (BGC.L) gains 1.2 percent, recovering from initial falls, after the British pharmaceutical firm posts full-year results, with CFD specialists Prime Markets saying investors should "buy on any dips."
BTG saw its full-year revenue rise by 13 percent to 111 million pounds, helped by a 6 million pounds contribution from its Biocompatibles acquisition in the final two months of the year.
"BTG have undergone something of a transformation over the past 7-8 months, which has seen the group commence sales of its own acute care products in the U.S. and generate increased value from the partnered pipeline with AstraZeneca (AZN.L)," says Ben Timms, head of sales at Prime Markets.
"Significantly, BTG shares have risen since the end of March, and although some holders will almost certainly be taking profits today, the outlook is excellent and there is a real sense that the restructured and enlarged BTG is better placed than ever to deliver increased sales and profits," Timms adds.
Prime Markets rates BTG shares a buy on any dips down to the 50-day line at 238 pence, with a 4-6 week target of 278 pence.
Securities and Derivatives markets may be subject to rapid and unexpected price movements and past performance is not necessarily a guide to future performance. Trading in these markets is generally considered to be suitable only for the more experienced investor as it carries a high degree of risk. An investor may not receive back the amount of their original investment and in certain circumstances may be liable for a sum that is greater than their original investment. If in any doubt, please seek independent financial advice.