[Click e-Stock] "PharmaResearch to Maintain Growth Trend This Year"

On January 8, LS Securities analyzed that PharmaResearch is expected to continue its growth trend this year. The company maintained its "Buy" investment rating and a target price of 700,000 won.

LS Securities projected that PharmaResearch's sales and operating profit this year will reach 710 billion won and 299.5 billion won, respectively. This represents increases of 29% and 32% compared to the previous year.

Jo Eunae, a researcher at LS Securities, stated, "We believe that the first quarter results this year could surpass the strong fourth quarter results from last year," adding, "In the United States, awareness of PN and PDRN ingredients is spreading among physicians and influencers across both B2B and B2C channels." She continued, "As recognition of the medical device 'Rejuran' expands into the cosmetics category, quarterly sales growth is also expected in the first quarter."

She further emphasized, "Considering the deferred volume from European partners to the first quarter, the decision to expand production due to a shortage of the company's skin regeneration cream 'Rejuvenex' at pharmacies that have emerged as inbound shopping channels, and the impact of advertising through TV and other media, we anticipate strong quarterly sales growth."

The company also predicted strong results for the fourth quarter of last year. LS Securities estimated that PharmaResearch's fourth quarter sales and operating profit last year would reach 155.9 billion won and 65 billion won, respectively.

She said, "Domestic demand is expected to record the highest quarterly sales ever, driven by record-high demand for medical tourism for skin procedures among foreign visitors and the seasonal peak effect. Exports are expected to continue robust growth in existing markets such as Indonesia and Singapore, and strong quarter-on-quarter growth is anticipated due to the recovery of exports to China." She added, "The effect of exports to Western European partners is expected to become evident from the first quarter."