In a research report to clients today, Kideckel initiated coverage of KNight Therapeutics with a “Buy” rating and a one-year price target of $10.70, implying a return of 33.1 per cent at the time of publication. The analyst says Knight ticks a lot of the boxes investors are looking for, including a strong management team with a strong balance sheet that has a multi-pronge business strategy.
“We believe that Knight has significant upside potential,” Kideckel says. In particular, the company has demonstrated abilities in creating robust pipelines, strong balance sheet presence, solid vision and track record to secure licensing and secured loans, proven track record of growth, and one of the top management teams in all of Canadian specialty pharma.”
Kideckel believes GUD will generate EBITDA of negative $7.16-million on revenue of $9.07-million in fiscal 2018. In fiscal 2019, he thinks the company will generate EBITDA of $7.47-million on a topline of $10.4-million.
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