[Click eStock] "Macrogen, Expected to Benefit from Precision Medicine Market"

[Asia Economy Reporter Hwang Yoon-joo] Daishin Securities analyzed on the 23rd that Macrogen is expected to benefit as it conducts research in the field of precision medicine. Accordingly, they initiated coverage with a 'Buy' rating and a target price of 40,000 KRW.

Researcher Han Song-hyeop of Daishin Securities stated, "Macrogen possesses genome analysis capabilities ranked fifth in the world," adding, "Considering the growth potential of the global genome analysis market and the company's sequencing service capabilities, it is currently undervalued."

Macrogen provides almost all services related to genome analysis.

Researcher Han said, "One of the recently high-growth areas is single-cell analysis, which has recorded sales growth of over 200% since 2017," and evaluated, "Future entry into high-growth new business areas such as spatial transcriptomics and proteomics analysis is expected."

Macrogen's export ratio in 2021 was about 50%. He explained, "The current focus is on the European market," adding, "Full-scale overseas market entry is planned based on the global genome center."

Currently, Macrogen has newly entered two fields: clinical diagnostics and personal genome analysis. The important areas in the clinical diagnostics market are ▲ cancer diagnosis ▲ liquid biopsy.

Researcher Han explained Macrogen's clinical diagnostics, saying, "Starting from the Songdo Jin Health Medical Examination Center, the liquid biopsy cancer diagnosis panel customer base will be expanded to large hospital cancer centers and medium-to-large medical examination centers," and "personal genome analysis services are provided through ‘MyGenomeStory’."

He added, "The market is expanding through B2B models in partnership with various companies, and if related regulations are eased, business unit growth is expected."