April 20, 2024

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[THE INVESTOR] Medytox’ earnings in the fourth quarter last year were unexpectedly high, said Hana Financial Investment on Feb. 19, raising the target price to 750,000 won (US$701.66) from 700,000 won.

Propelled by toxin exports which more than doubled to 24.8 billion won, its revenue in the period widely beat market consensus, surging 29.2 percent on-year to 53.0 billion won, said analyst Seon Min-jeong.

Domestic sales maintained their momentum and leapt 68 percent on-year to 11.6 billion won as its third factory -– with the capacity to manufacture products worth 600 billion won -– has started full operations, according to the analyst.

The pharmaceutical company’s exports will continue to bound and domestic sales will remain steady as well, forecast Seon maintaining a “buy” recommendation. 

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