April 25, 2024

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[THE INVESTOR] Seegene’s performance is improving its growth potential will be strengthened further next year, said Samsung Securities on May 25, maintaining a “buy” recommendation and 45,000 won (US$40.25) target price. 

Its business model is evolving to include wholesale exports, ODM for multinational companies and exports of its own brand, noted analyst Lee Seung-ho. 

The analyst estimated that both revenue and operating profit this year will rise 20 percent on-year. 

On the back of its new molecular diagnosis reagent, Seegene might break its earnings record, according to Lee adding that it could further gain momentum from exports to the US and commercialization of molecular diagnostic product automation. 

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