MILAN (AIMnews.it) – EnVent Research has confirmed the Outperform rating for KOLINPHARMA, lowering the target price from 8.54 to 8.33 euros per share (diluted), with a potential upside of 20% on the current share price. The market multiples, for analysts, are at a discount compared to the peers due to their reduced company size, recent business history and important investments that are currently in progress. In the first half of 2018, the turnover of KOLNIPHARMA amounted to 2.7 million euro, a figure that has doubled from the same period of the previous year, and the sales network has grown from 58 to 66 medical-scientific representatives (MSRs). The company also continued its R&D investments, consolidating its partnerships with leading Italian universities, and is working on the development of new nutraceuticals and a medical device. Analysts consider the results of the first half of 2018 consistent with the forecasts for the end of the year. According to management, based on orders received, revenues for the second half of the year should be even higher. Also for this reason EnVent has kept its projections.