RE:RE:Q1 resultsThanks for providing that update. In the 4th paragraph, bloomburton said the Q1 gross margin was 30%. That's a pretty weird number and kinda impossible since the pre-tax net margin was 32%. Usually, the GM is between 75% and 80% and Q1 was no exception at 79.2%.
I like to read these reports, but usually don't put a lot of stock in them.
lscfa wrote: Bloom Burton dropped the target price to $6.00 from $9.00 in March. Maintaining it at $6.00 now.
https://www.bloomburton.com/research/RX20200529.pdf
theinvestor22 wrote: Very nice results. COVID affected them in a positive way but, apparently Jan and Feb (pre-COVID) rev was up double digits, so underlying growth is there. Tiblella promotion starts in June and deliveries start in July. Combogesic probably won't be launched until later this year. An additional 332.4k shares were purchased under their existing NCIB after Q end at lovely rock bottom prices. (Way to go RX.)
I'm moving my fair value calc up. It's in the 9.50 range now and could go much higher after upcoming launches are in the results. Market still hasn't recognized it yet, but these things usually correct themselves over time.