Daewoong Pharmaceutical is showing strength in early trading on the 3rd. Reports predicting strong performance in the second quarter have appeared one after another in the securities industry, capturing investors' attention.
As of 9:22 a.m. on this day, Daewoong Pharmaceutical is trading at 154,900 won, up 9,600 won (6.61%) from the previous trading day.
Korea Investment & Securities projected Daewoong Pharmaceutical's second-quarter standalone sales at 343.2 billion won and operating profit at 57.8 billion won, raising the target stock price by 14%. The sales of the botulinum toxin product "Nabota" through its U.S. partner, Evolus, are expected to increase, leading to anticipated strong performance. Due to the increase in toxin exports, Daewoong Pharmaceutical is likely to achieve an operating profit margin of 17% for the first time in its history.
DS Securities also forecasted that Daewoong Pharmaceutical's second-quarter performance will exceed market expectations (consensus), stating, "If the approvals for Nabota and the gastroesophageal reflux disease treatment Pexuclu in China become visible in the second half of the year, there may be additional upward potential for the performance."