National Express (NEX) shares ticked up 11.19% to 317.9p as analysts raise target price
Shares in the UK transport provider have gained nearly 15% in value since the beginning of the month after several analysts said they are confident in the Group’s financial recovery.
Canaccord Genuity raised its target price from 255p to 330p on Wednesday after it said it was "increasingly confident" that the Group’s financial performance will "largely return to normal" in 2022.
Meanwhile, analysts at Berenberg followed suit on Thursday, raising their target price from 280.0p to 360.0p. Analysts stated that the Company still had "more mileage left to cover".
Despite the ongoing lockdown and reduced earnings estimates for National Express in 2021. Analysts have projected that the Company’s 2022 forecasts remained "largely unchanged".
Oilex (OEX) shares soared 94.74% to 0.185p as it advances talks for Cambay stake
Shares in the Australian oil & gas exploration and production company shot up on Monday after the group informed investors that it is currently in "advanced discussions" in regard to buying Gujarat State Petroleum Corp's 55% interest in the Cambay oil field in India.
It added that it is in advanced discussions with third parties to provide finance and working capital should the acquisition be completed. Upon completion, the acquisition would resolve the Company’s ongoing dispute with the Gujarat State Petroleum Corporation (GSPC).
"While the execution of the agreement has been delayed by the impact of Covid-19 pandemic, we have continued to work together to bring this matter to completion,” it said. It said discussions remain incomplete and that it cannot say when these will be finalised.
Scancell Holdings (AIM:SCLP) shares jumped 53.09% to 21.05p as interest ramps up for a ‘second generation’ COVID-19 vaccine
Shares in the developer of immunotherapies for cancer and infectious diseases have gained over 20% since the start of December 2020, with shares climbing over 53% this afternoon.
The Company is currently focused on expanding its research work into cancer treatments; however it is also making its mark in the COVID-19 vaccine space as it works towards developing ‘an effective and differentiated vaccine’ against COVID-19 and its variants.
In its half-year results released last month, the Group said it had utilised its ImmunoBody® cancer vaccine approach in order to develop ‘a second generation vaccine’ which offers several potential advantages over currently approved and late-stage COVID-19 vaccines.
In October 2020, Scancell entered into a collaboration with Cobra Biologics to conduct preliminary work leading to the manufacture of the Group’s COVID-19 vaccine. The Group outlined that the goal is to start a Phase 1 clinical trial ‘as soon as possible during 2021.’
If successful, Scancell’s developed vaccine has the potential ‘to be effective against any variant or new strain of coronavirus in addition to the current dominant COVID-19 strain.’
The use of the Group’s AvidiMab™ technology ‘increases the potency of the T cell response which, in turn, should lead to long-term protection and immunological memory,’ it noted.
Another benefit of a DNA vaccine is that they are ‘exceptionally stable’ meaning they don’t require ultra-low temperature storage and are manufactured using a simpler process.
Braveheart Investment Group (BRH) shares rose 35.87% to 62.5p as it awaits clinical testing results from its COVID-19 diagnostic programme
Shares in the investment group have increased by nearly 25% in value since the beginning of the month after Braveheart informed investors that its investee company, Paraytec, had received all clinical samples required to test its new coronavirus (COVID-19) diagnostic tool.
It has been working with the University of Sheffield and will use the samples to set the test operational parameters to either attain or exceed the recommended guidelines for upper limits on false positive and negative tests set by the Medical Health Regulatory Authority.
At the time, it said results from this phase of clinical testing were now expected by the end of February 2021. To minimise the effects of a delay which had occurred as a result of the national lockdown, Paraytec said it had brought forward scheduled work, using isolated lab-grown virus to detect pre-symptomatic and early-stage symptomatic levels of virus.
Paraytec's target is to detect less than 1000 virions per millilitre of sample, which it said would represent ‘a market leading performance’, if achieved. By rearranging workflows, Paraytec said it does not expect any overall delay to the development programme.
Micro Focus International (MCRO) shares fall 4.12% to 446.95p while the stock has more than doubled in value since November 2020
Despite dipping during Monday afternoon trading, shares in the management software provider have more than doubled in value since the beginning of November 2020.
Last month, the Group informed investors that it had reinstated its dividend, sending shares upwards, after citing "solid progress" in the first year of Micro’s three-year turnaround plan.
It reported adjusted core earnings of $1.2bn, down from $1.4bn a year earlier, at a margin of 39.1%, which it said was towards the upper end of expectations. Revenue also declined 10%, however, the group has decided to reinstate its final dividend at 15.5 cents per share.
This was as a result of revenue decline moderating during the period, to around 11% in the first half and 9% in the second. Micro generated a total of $3bn of revenue for the full year.
"We are now 12 months into our three-year turnaround plan and whilst there remains a great deal to do, we have made solid progress in delivery of our key strategic objectives and improvements in operational effectiveness,” said Chief Executive, Stephen Murdoch.