Shares in BTG (Other OTC: BTGGF - news) briefly hit an eight-month high of 388 pence after the pharmaceutical company says it expects full-year revenues to beat expectations, prompting analysts to raise earnings forecasts.
BTG says revenues will be about 230 million pounds ($348 million), exceeding its previous guidance of 205-215 million pounds, helped by a strong performance from prostate cancer drug Zytiga.
"The seemingly never ending cycle of upgrades continues," says Savvas Neophytou, analyst at Panmure Gordon, says.
Neophytou lifts his earnings per share forecast for BTG for this year by 20 percent, and by 2 percent for next year, while retaining his "hold" rating on valuation grounds.
Over the last 30-days a third of analysts that cover BTG have raised their earnings expectations by an average of 20.6 percent, according to Thomson Reuters Starmine Data.
By 1130 GMT, BTG's shares were up 1.5 percent at 363.9 pence.
To see BTG's statement please click on
Reuters messaging rm://oxana.andrienko.reuters.com@reuters.net ($1 = 0.6607 British pounds)
