April 20, 2024

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[THE INVESTOR] Yuhan will beat the fourth-quarter market estimates as its major products including Hepatitis B medicine Viread have sold briskly, said HMC Investment Securities on Jan. 13.

The securities firm upgraded its recommendation from a “neutral” to a “buy” but lowered the target price to 245,000 won (US$208) from 290,000 won. 

Its fourth-quarter revenue will hike 15.8 percent on-year to 348 billion won and operating profit will soar 96.3 percent to 20.9 billion won, according to analyst Kang Yang-gu.

“As it has been adjusted following a disaster related to its key pipeline, there is room to grow, which is why the recommendation has been upgraded but transactions will be limited and the target price has been brought down,” explained the analyst. 

The pharmaceutical company’s 2017 revenue will rise 8 percent to 1.42 billion won and operating profit by 28.3 percent to 93.5 billion won, added Kang.

By Hwang You-mee (glamazon@heraldcorp.com)