[Featured Stock] 'Rejuran Effect' PharmaResearch Up 3.42%

Pharmaresearch, which achieved results exceeding market expectations in the second quarter of this year by leading with the beauty medical device Rejuran, is experiencing a rise in its stock price.

As of 9:44 AM on the 8th, Pharmaresearch was trading at 172,500 KRW, up 5,800 KRW (3.42%) from the previous trading day.

On the same day, Samsung Securities stated, "We have reflected the second-quarter results that exceeded market expectations and the domestic growth of Rejuran," and raised Pharmaresearch's target stock price by 10.25% from the previous level to 210,000 KRW. The buy rating was also maintained.

Second-quarter sales reached 83.3 billion KRW, up 24.7% compared to the same period last year, and operating profit for the same period was 30.8 billion KRW, up 30.1%, exceeding market expectations by 7.6% and 8.8%, respectively.

Jung Donghee, a researcher at Samsung Securities, said, "The core product Rejuran recorded solid growth in the domestic market," adding, "The growth of relatively less noticed pharmaceuticals such as Rientox and Placentex, along with a balanced portfolio composed of cosmetics that expand the Rejuran brand, is showing synergy among the product categories."

Researcher Jung added, "Although it is expected to take 5 to 7 years until the performance impact from Rejuran's entry into the U.S. and European markets is reflected, given the rapidly increasing local potential demand, it is possible to concretize entry plans within this year and raise the valuation (stock price level relative to corporate value)."