MILAN (AIMnews.it) – IRTop Research has updated the TP on BioDue, in light of the results of the first half of 2018 and the acquisition of 43.42% of Farcoderma, going from 6.84 to 7.05 euro per share. The analysts’ estimates for the 2018 forecast in total revenues are € 41.1 million, up by 13.3% compared to 2017, an EBITDA of € 7.2 million, corresponding to an EBITDA margin of 17.5%, a group net profit of 4.0 million and net financial debt of 7.9 million. For 2020 IRTop Research expects total revenues of € 48.8 million, an EBITDA of € 9.9 million (20.2% EBITDA margin), a group net profit of € 5.4 million and a decline in the NFP at 2.6 million. The average annual growth in revenues in the period 2017-2020 should therefore be 10%. The stock, which capitalises at around 64 million euros, has an EV / EBITDA 2018 multiple of 10.3x against an average value of 16.8x of the peers considered.