RBS Australia rates CXS as Buy - Target $1.31 (was $0.91). The broker notes the US FDA has granted priority review for Omapro, which suggests approval is likely by March next year. The broker has lifted its valuation and price target on the news and this supports its Buy rating, the next catalyst likely to be a European marketing partner that could be announced by year end.
Target price is $1.31 Current Price is $0.88 Difference:$0.43 - (brackets indicate current price is over target). If CXS meets the RBS Australia target it will return approximately 49% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in June. RBS Australia forecasts a full year FY10 dividend of 0.00 cents and EPS of -2.80 cents. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is -31.43.
Market Sentiment: 1.0
CXS Price at posting:
95.0¢ Sentiment: Hold Disclosure: Held
