[Alpha Biz= Reporter Kim Minyoung] On the 20th, Sangsangin Securities raised the target stock price of PharmaResearch from 150,000 won to 180,000 won. This reflects the resolution of uncertainties regarding growth in business performance and the high growth potential of the aesthetic sector.
Sangsangin Securities stated, "The growth of PharmaResearch is continuing. In the first quarter of 2024, the consolidated sales increased by 34.8% year-on-year to 74.7 billion won, and the operating profit rose by 28.6% to 26.7 billion won. High growth was driven by domestic sales of medical devices and cosmetics. Contrary to the ongoing market concerns, business performance has continued to show high growth."
Sangsangin Securities also mentioned, "As the stock price has surged and leveled up in the short term, the possibility of a price correction has increased for the time being. There has also been recent noise regarding the major shareholder's stake sale," but added, "If the growth potential of medical devices and cosmetics rises again in the second half of 2024, the stock price will have another momentum to increase."
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
