##{"id":60724,"date":"2012-10-15T11:37:02","date_gmt":"2012-10-15T00:37:02","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2012\/10\/15\/treasure-chest-pharmaxis-back-in-focus\/"},"modified":"2012-10-15T11:37:02","modified_gmt":"2012-10-15T00:37:02","slug":"treasure-chest-pharmaxis-back-in-focus","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2012\/10\/15\/treasure-chest-pharmaxis-back-in-focus\/","title":{"rendered":"Treasure Chest: Pharmaxis Back In Focus"},"content":{"rendered":"

\n\tHealthcare analysts at RBS<\/span>, Scott Power, Tanya Solomon and Jack McManus<\/span> suggest this morning shares in local biotech Pharmaxis<\/span> ((PXS<\/span>)) look good value at present levels.<\/p>\n

\tWhy?<\/strong><\/p>\n

\tThe analysts participated in the quarterly investment call last week which (obviously) re-affirmed their positive stance on the company and its outlook. Equally important, probably, the analysts report there is some takeover speculation surfacing. The RBS<\/span> trio reiterates the Buy recommendation while lifting the price target to $1.53 from $1.30 prior. The shares last traded for $1.34 on Friday.<\/p>\n

\tAmongst the positives derived from the investment call is the fact that feedback from the centres<\/span> in Germany has been "uniformly positive" and RBS<\/span> is now talking about "momentum improving" for Pharmaxis<\/span>.<\/p>\n

\tInvestors should also note the following positives (lined up by RBS<\/span>):<\/p>\n

\t– in Australia, Bronchitol<\/span> has been approved for marketing to people with cystic fibrosis aged 6 years and over since early 2011 but has only recently been listed on the Pharmaceutical Benefits Scheme;<\/p>\n

\t– the application is through a New Drug Application (NDA) and it is currently in active and detailed review by the FDA, with a target date for completion of the review of 18 March 2013<\/p>\n

\tOn current forecasts, Pharmaxis<\/span> is not expected to turn profitable until fiscal 2015 and the company is anticipated to start paying a dividend from that year onwards (projected 2c<\/span>).<\/p>\n

\n\t
\n\tFind out why FNArena<\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"