[Featured Stock] Samsung Biologics Surges 4% Intraday on Earnings Expectations

[Asia Economy Reporter Minji Lee] Samsung Biologics is showing an upward trend fueled by expectations of an earnings surprise in the first quarter.

At 2:54 PM on the 14th, Samsung Biologics was trading at 841,000 KRW, up 4.08% from the previous trading day. The company's stock price rose to as high as 842,000 KRW during the session.

Daishin Securities forecasted that Samsung Biologics would report first-quarter results exceeding market expectations. They predicted consolidated first-quarter sales of 480.4 billion KRW, an 84.2% increase year-over-year, and operating profit of 157.1 billion KRW, a 111.5% increase, surpassing the consensus estimates (sales of 465.6 billion KRW and operating profit of 154.8 billion KRW).

Yunjin Lim, a researcher at Daishin Securities, explained, “Strong earnings growth is expected due to increased utilization of the third plant compared to the previous quarter, the impact of the rising KRW-USD exchange rate, and increased other sales including production of Moderna COVID-19 vaccine drug products (DP).”