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Admedus Ltd receives A$1.95 valuation from Hong Kong firm

Cedrus Investments commented: "We are initiating coverage of Admedus. In our view, shares of Admedus are currently undervalued, as we estimate they will have a fair value of A$1.95 per share by December 2018, versus the closing price of A$0.42 as of March 8, 2016."

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Admedus Ltd (ASX:AHZ) has now revealed that Cedrus Investments, a Hong Kong based boutique investment bank, has initiated coverage on the company.

Admedus last traded at $0.46. The following is an extract from the report.


Admedus is a Well Balanced Junior Healthcare Company Poised for Substantial Growth

We believe Admedus Ltd (“Admedus”), listed on the Australian Securities Exchange (ASX:AHZ), is a game‐changer in the fast‐growing global cardiovascular market with its proprietary and patented regenerative tissue engineering technology.

In addition, the company has also entered into the promising cancer vaccination/immunotherapy sector, providing another driver for sustained profitable growth.


Recommendation Summary

- We are initiating coverage of Admedus. In our view, shares of Admedus are currently undervalued, as we estimate they will have a fair value of A$1.95 per share by December 2018, versus the closing price of A$0.42 as of March 8, 2016.

- As a well-balanced junior healthcare company, Admedus is poised for substantial and persisted growth. We project the company to become profitable from fiscal year 2017/2018.

- Admedus has developed a cutting-edge regenerative tissue technology named ADAPTR with a wide range of applications. The technology has significant advantages over the competition in terms of ease of use, durability and reliance, among others. The first commercialized product, CardioCelR, is being used by cardiac surgeons in over 135 centres worldwide and generating sales.

- The company has also started clinical trials with a family of immunotherapy vaccines, targeting Human Papillomavirus (HPV) and Herpes simplex virus (HSV.2), in collaboration with Professor Ian Frazer, the original co-developer of the technology behind the HPV vaccine against cervical cancer, now marketed as GardasilR by Merck (NYSE: MRK) and CervarixR by GlaxoSmithKline (NYSE:GSK).

- We believe now is the ideal time to invest in Admedus' shares, as we expect impending and potentially positive clinical catalysts such as the more extensive analysis of unblinded data for the HSV.2 Phase II results likely in 3Q calendar 2016 and the likelihood of getting regulatory approval of CardioCelR in the Middle East and North Africa region between 2Q and 4Q calendar 2016 will give Admedus' shares a boost.


In addition, Admedus captures all key elements of a successful junior healthcare company:

- A track record of fruitful R&D efforts;
- Rapid product commercialization and sales ramp;
- Competitive new products in the pipeline, and
- Potentially gaining significant market share in the industry it competes.

 

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Admedus CEO in New York to update on recent key milestones

Admedus Ltd (ASX:AHZ) CEO Wayne Paterson visited the Proactive Investors New York studio to update on key milestones the company has achieved in the past few months, including receiving European approval on two of its products.

on 03/17/2019

3 min read