Allergy Therapeutics : “Positive trading update – market share gains” says Panmure Gordon

Panmure Gordon Analyst talks about Allergy Therapeutics PLC LON:AGY this morning “Allergy Therapeutics has announced a trading update for the year ended 30 June 2016. Reported revenues are expected to be slightly ahead of consensus expectations at £48.5m (PGe £48.1m, FY15: £43.2m), reaffirming the strength of sales commentary made most recently within the company’s 27 June 2016 release. This represents a reported YOY growth rate of +12% despite the negative impact of the weakening Euro throughout most of FY16, and a constant currency growth rate of +19%. Today’s news, in our view, further reaffirms our position as stated both at the end of June – in response to the US GrassMATAMPL update – and earlier this week, within our Conviction List for 3Q 2016 note”

 

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