May 02, 2024

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[THE INVESTOR] Medytox’ exports have shown signs of recovery in the fourth quarter last year, said Kiwoom Securities on Jan. 15, maintaining a “buy” recommendation and raising the target price to 670,000 won (US$630.65) from 530,000 won.

Its revenue rose 23.3 percent on-year to 49.3 billion won and operating profit by 19.1 percent to 26.3 billion won, estimated analyst Lee So-jung.

Exports have been slow in the third quarter but regained in Brazil, Thailand and Japan, while sales of toxins in the domestic market surged, said the analyst. 

The strong overseas momentum, including the pending initiation of third-phase clinical trials in the US for its first liquid-type toxin, will push its stock price, added Lee. 

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