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Open Orphan Plc (HVO) AI Stock Analysis
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Open Orphan Plc
(LSE:HVO)
The score is held back primarily by deteriorated financial performance (losses, negative gross profit, and significant cash burn) and weak technical momentum (below key moving averages with negative MACD and low RSI/Stoch). These are partially offset by a moderately supportive earnings outlook centered on a record order book and expected H2 recovery, and a dividend yield that provides limited valuation support despite a negative P/E.
Open Orphan Plc (HVO) vs. iShares MSCI United Kingdom ETF (EWC)
- Market Cap
- GBP 41.30M
- Dividend Yield
- 3.33%
- Average Volume (3M)
- 1.29M
- Price to Earnings (P/E)
- -3.3
- Beta (1Y)
- 1.02
- Revenue Growth
- -24.24%
- EPS Growth
- -329.49%
- Country
- UK
- Employees
- 376
- Sector
- Healthcare
- Sector Strength
- 51
- Industry
- Medical - Diagnostics & Research
Open Orphan Plc Business Overview & Revenue Model
Company Description
hVIVO plc (HVO) operates as a premier full-service Contract Research Organisation (CRO) focused on early-phase clinical development, globally recognized as the leader in human challenge trials. The company provides a complete spectrum of clinical dev...
How the Company Makes Money
Open Orphan makes money primarily by providing fee-for-service clinical research to third-party customers (typically pharmaceutical and biotechnology companies, and potentially academic or governmental organizations) that need rapid, controlled effic...
Open Orphan Plc Earnings Call Summary
The call was positive overall despite weak first-half financial results, a GBP 47 million full-year revenue outlook below consensus, contract delays and an expected full-year EBITDA loss. Management emphasized record order-book levels, a recovering human challenge trial pipeline, 110% laboratory revenue growth, diversification into new therapeutic areas and an immediately accretive CRS Berlin acquisition. The deferred contracts were explicitly described as delayed rather than canceled, and management expressed confidence in significant growth and positive EBITDA in 2027.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
For full year 2026, hVIVO is guiding to around GBP 47 million of revenue, including GBP 31 million in H2 2026, which is almost double H1 2026 revenue of GBP 16.3 million; it expects to be EBITDA positive in H2 and to reduce the H1 EBITDA loss of GBP 4.5 million to a low single-digit loss for the full year, defined as anywhere between GBP 2 million and GBP 3 million, with cash expected to be about down to about GBP 8 million or GBP 9 million at the end of December. For 2027, management is forecasting significant year-on-year growth and positive EBITDA, with brokers consensus around mid to high 50s, while CRS Berlin is expected to contribute GBP 3 million of revenue and GBP 0.5 million of EBITDA in the four months owned, with an expected 10%-12% margin going forward and an aspirational 15% to 20%.
Open Orphan Plc Financial Statement Overview
Summary
Financial performance is pressured by a sharp downturn in the latest year: revenue declined, profitability swung to a sizable net loss with gross profit turning negative, and operating/free cash flow moved to deep negative territory. While earlier years showed solid profitability and cash conversion with manageable leverage, the recent equity decline and cash burn increase near-term financial risk.
Income Statement
48NeutralBalance Sheet
64PositiveCash Flow
41Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 38.85M | 46.77M | 62.73M | 56.04M | 48.48M | 36.86M |
| Gross Profit | -4.72M | -6.12M | 62.73M | 10.41M | 4.00M | 35.90M |
| EBITDA | -9.29M | 4.31M | 17.80M | 14.02M | 2.70M | 3.07M |
| Net Income | -12.34M | -5.99M | 10.65M | 16.11M | -776.00K | -74.00K |
Balance Sheet | ||||||
| Total Assets | 73.13M | 71.81M | 88.89M | 83.23M | 51.38M | 42.27M |
| Cash, Cash Equivalents and Short-Term Investments | 12.98M | 14.30M | 44.18M | 36.97M | 28.44M | 15.69M |
| Total Debt | 13.92M | 14.79M | 12.90M | 12.53M | 2.30M | 3.15M |
| Total Liabilities | 41.05M | 33.66M | 44.22M | 48.90M | 31.16M | 21.59M |
| Stockholders Equity | 32.08M | 38.16M | 44.67M | 34.33M | 20.22M | 20.68M |
Cash Flow | ||||||
| Free Cash Flow | -6.97M | -14.80M | 7.88M | 12.06M | 14.62M | -2.30M |
| Operating Cash Flow | -6.07M | -13.40M | 10.34M | 17.24M | 15.98M | -1.56M |
| Investing Cash Flow | -979.00K | -11.90M | -660.00K | -5.18M | -1.36M | -739.00K |
| Financing Cash Flow | -3.28M | -4.56M | -2.40M | -4.70M | -1.83M | -1.20M |
Open Orphan Plc Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HVO, the sentiment is Neutral. The current price of 6.00 is above the 20-day moving average (MA) of 5.82, below the 50-day MA of 6.19, and below the 200-day MA of 7.15, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 52.85 is Neutral, neither overbought nor oversold. The STOCH value of 52.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:HVO.
Open Orphan Plc Peers Comparison
Overall Rating
GB:IXI64Neutral
GB:FAB49Neutral- GB:HVO49Neutral
GB:APTA43Neutral
GB:AVCT43Neutral
GB:OBD40Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| GB:IXI | 64Neutral | GBP 25.73M | -5.99 | -16.18% | ― | 13.04% | 15.88% |
| Sector * | 51Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
| GB:FAB | 49Neutral | GBP 7.51M | -6.06 | -97.87% | ― | 7.38% | 44.13% |
| GB:HVO | 49Neutral | GBP 41.30M | -3.33 | -35.13% | 3.33% | -24.24% | -329.49% |
| GB:APTA | 43Neutral | GBP 10.23M | -9.83 | -46.61% | ― | 28.35% | 57.14% |
| GB:AVCT | 43Neutral | GBP 294.51M | -6.63 | -1293.07% | ― | ― | ― |
| GB:OBD | 40Underperform | GBP 14.45M | -0.27 | -451.74% | ― | 33.37% | 86.41% |
* Healthcare Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| GB:HVO | Open Orphan Plc | 6.00 | -0.55 | -8.40% | |
| GB:AVCT | Avacta Group plc | 60.50 | -11.50 | -15.97% | |
| GB:IXI | IXICO plc | 11.75 | 0.25 | 2.17% | |
| GB:OBD | Oxford BioDynamics | 0.11 | -0.21 | -66.56% | |
| GB:FAB | Fusion Antibodies Plc | 6.00 | -7.50 | -55.56% | |
| GB:APTA | Aptamer Group Plc | 0.29 | -0.51 | -63.13% |
Open Orphan Plc Corporate Events
hVIVO reshapes board with new non-executive appointment
PositivehVIVO plc has announced changes to its board as part of the continuing evolution of its governance, appointing Caroline Shaw, CBE as an independent non-executive director from 1 October 2026, with responsibility for chairing the remuneration committe...
hVIVO Orderbook Surges as CRS Berlin Deal Positions Group for 2027 Growth
PositivehVIVO reported interim revenue of £16.3 million for the first half of 2026, down from £24.2 million a year earlier, and an adjusted EBITDA loss of £4.5 million, reflecting a planned second‑half weighting of activity and timing of...
hVIVO Announces CFO Retirement and Interim Successor Amid Growth Push
PositivehVIVO plc has announced a planned change in its financial leadership, with long-serving Chief Financial Officer Stephen Pinkerton set to retire at the end of September 2026 after a decade at the company. Non-executive director Richard Cotton, an expe...
hVIVO Sets Date for Interim Results and Schedules Analyst and Investor Events
NeutralhVIVO plc, the global leader in human challenge clinical trials and a full‑service clinical development partner to major biopharma companies, will publish its interim results for the six months to 30 June 2026 on 15 September. The company opera...
hVIVO expands into dermatology and women’s health with acquisition of CRS Berlin
PositivehVIVO has acquired CRS Clinical Research Services Berlin, a specialist Phase I/II unit focused on dermatology and women’s health, in a deal structured with a nominal upfront payment and a three-year revenue-based earnout. The Berlin site, which...
hVIVO Orderbook Doubles as Second-Half-Weighted Revenue Drives Growth Outlook
PositivehVIVO reported first-half 2026 revenue of £16.3 million, down from £24.2 million a year earlier, and expects 2026 earnings to be heavily second-half weighted, with adjusted EBITDA turning positive in H2 after a negative mid-single digit out...
hVIVO appoints Grant Thornton as new auditor after tender
PositivehVIVO plc has appointed Grant Thornton UK LLP as its new auditor following a competitive tender process, replacing Gravita Audit II Ltd with effect for the financial year ending 31 December 2026. The company plans to seek shareholder approval to reap...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Sep 22, 2026