PharmaResearch shares rose early on the 8th. With securities analysts projecting strong overseas sales growth, buying appears to be picking up.
As of 10:35 a.m. that day, PharmaResearch was trading at 456,500 won, up 24,000 won (5.55%) from the previous session.
LS Securities issued a report that day expecting strong fourth-quarter results last year for PharmaResearch. It estimated revenue and operating profit would rise 51% and 93% year over year, to 155.9 billion won and 65 billion won, respectively.
Jo Eun-ae, an LS Securities analyst, said, "First-quarter results this year are expected to surpass the fourth-quarter peak season results last year," adding, "In the United States, awareness of the medical device 'Rejuran' is spreading to the cosmetics category as well, making quarterly sales growth in the first quarter likely."
She added, "The microneedle radiofrequency (MNRF) device slated for release in the second quarter this year is an upside factor not included in our forecasts."