broker commentary, page-3

Wilson HTM 12month price target is $5.30

EPS FY13 is estimated to be 71.1c
NPAT FY13 169.5M

Quick scenario - PXS share price in 2013
------------------------------------------------------

- ASX biotech sector avg PE is 12.2
- estimated FY13 EPS 56.88c (20% reduction of broker EPS for margin of safety)

PXS SP = $6.93 (258% increase from current levels)
--------------

Also, the EMA decision is confirmed to be this week or next week as EMA meets in Nov and Jan but not Dec. PXS
decision is scheduled for Nov meeting from my sources.


General info: PXS is the 2nd largest biotech in Oz with market cap just under $500M - dwarfed by CSL: cap - 17,000M

If the above scenario occurs, PXS FY13 market cap will be 1,500M

Exciting times ahead!

ps. The company is a growth stock (similar to CSL e.g. low yield) hence its a good candidate for a negative gearing strategy