Arrowhead initiates coverage on Deinove in the United States

19.06.2018
  • The American financial services and research provider firm has initiated coverage on Deinove’s stock with a valuation of up to €5.55 per share.

DEINOVE (Euronext Growth Paris: ALDEI), a biotech company that discovers, develops, and produces high-value compounds from rare bacteria, announced today the initiation of coverage for its stock by Arrowhead Business and Investment Decisions, LLC ("ABID" or "Arrowhead").

Based in New York and specialized in investor relations in the United States, Arrowhead will monitor and draw up financial analysis and valuation reports on DEINOVE. Established in the United States for 10 years, Arrowhead has developed a wide-ranging network of American investors.

After the recent arrival of European and Anglo-Saxon funds in DEINOVE's capital, this coverage aims to increase the company's international visibility and to expand its investor base, notably in the United States.

ABID initiated coverage for DEINOVE shares with a target price up to €5.55 by combining the discounted cash flow (DCF) method and the relative valuation method. The report can be downloaded at the following address:

http://www.deinove.com/en/investor-room/documentation-center/analyst-coverage

Emmanuel Petiot, CEO of DEINOVE, said, "Increasing DEINOVE's visibility among American investors is one of our strategic goals. With Arrowhead, which has issued a positive recommendation on our company, we are increasing our exposure to American investors. They know our markets well, notably in research for new antibiotics. In this field, our presence in the US is expected to strengthen with the clinical development of our antibiotic candidate MCB3837, designed to treat severe forms of Clostridium difficile infections, as a large number of these clinical cases have been reported across the Atlantic."