April 25, 2024

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[THE INVESTOR] Expectations are rising for Celltrion Healthcare on its earnings momentum as well as the policy to stimulate KOSDAQ market, said Samsung Securities on Nov. 16, raising the target price to 83,000 won (US$74.98) from 60,000 won.

Its third-quarter earnings was a shocking disappointment as revenue from its biosimilars, Inflectra in the US and Truxima in Europe, was deferred while fixed costs and one-off costs from establishing an overseas branch further dragged down the bottom line, said analyst Lee Seung-ho.

In the fourth quarter though it will enter the high season and will be able to meet market expectations with 450.4 billion won revenue and 103.4 billion won operating profit, up 127.5 percent and 156.6 percent on-year, respectively, forecast the analyst. 

The company will also be included in Morgan Stanley Capital International’s Korean index in November and may join KOSDAQ 150 in December, added Lee. 

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