Wilsons report - 30c 12 month target

New report out for ANP by Wilsons dated 21 July.

SP 30c 12 month target, and 83c unrisked target.

Couple of points I'm surprised by in the Wilson's report - located HERE

1. they didn't wait for the capital raise funds to come through. As they would have shown the higher MC, EV and shares on issue.

2. Why wasn't the latest raise foreseen by them? This comment (below) doesn't take into consideration the company noted in updates a small single digit raise will be required earlier?? Probably just looking for a reason to change the target price.

Wilson report noted: 'This raise was not in our modelling, with the next capital injection pencilled in alignment with the mid 2024 Phase IIb data readouts – however we can see that interruptions to trial progression, owing to regulator delays, has likely driven the need for additional interim funding to support continuing operations.'

Great to see the share price holding up even though some quick profits could be taken after the raise.