Scale market report: Recovery after setback

The Platform Group: still room for improvement

Although The Platform Group was unable to continue the good run that lasted until June, the share is still clearly up this year at EUR 8.30. The company is focusing on the acquisition of digital marketplaces; the latest takeover candidate is the Dutch market leader for luxury fashion and accessories Winkelstraat.

Oddo BHF has rated the share for the first time and upgraded it to “Outperform” with a target price of 12.50 euros. The growing sales, the adjusted EBITDA margins, the solid financial profile with an equity ratio of over 30 percent, the positive average free cash flow and the unique ecosystem are not reflected in the share price, the analysts believe. 

Price target 51 euros for Deutsche Rohstoff

Meanwhile, the shares of oil producer Deutsche Rohstoff continue to move with the oil price. On Thursday morning, it is trading at just under 38 euros, compared to 32 euros at the beginning of the year and 28 euros a year ago. First Berlin Equity Research believes the share is worth a whopping 51 euros and rates it a “buy”. The reasons: production in the first half of the year exceeded expectations and the production forecast for the year as a whole with an increase of 19 percent compared to the previous year.

Apontis with a “solid” second quarter

Apontis Pharma is also one of this year's winners, with the share price rising from 4.25 euros to a peak of 9 euros, and is now still at 7.60 euros. In the second quarter, Apontis was able to continue its sales growth with “single pills”, which combine two or three active ingredients, and achieved a profitable first half-year. The analyst firm Montega speaks of a “solid quarter”, with the encouraging sales results providing the basis for further growth. “Together with the optimizations at other levels, the improved sales should lead to a noticeable boost in earnings,” explain the analysts. They reiterate their buy recommendation with an unchanged price target of EUR 16.50 - that would be more than a doubling of the share price.

“Formycon well advanced with approval pipeline”

Things are not going so well for biosimilar developer Formycon, at least on the stock market. After prices above 90 euros at the beginning of 2023, the share price fell sharply to below 38 euros this year. Now it is at least back to EUR 49. The company, which currently has six biosimilars in development, has reported a number of success stories. “Although the sales launches that have already taken place are leading to profitable sales with rising earnings contributions, the company is still in investment and development mode with losses,” comments Nebenwerte-Magazin. However, Formycon is well advanced with its approval pipeline and should soon be able to break even, “naturally combined with the typical uncertainties of a business concept dependent on approvals”.

From Anna-Maria Borse © 15 August 2024, Deutsche Börse AG