[Market Feature] PharmaResearch Rises 5% on Balanced Growth Outlook in Domestic and Overseas Markets

On January 9, PharmaResearch showed strong gains in early trading. The buying momentum is believed to have been driven by securities firms' outlook for high growth in overseas sales.

As of 9:34 a.m. that day, PharmaResearch was trading at 487,500 won, up 25,000 won (5.41%) from the previous session.

Kiwoom Securities released a report that day, forecasting strong fourth-quarter results for PharmaResearch. The company projected sales of 152.7 billion won, up 48.1% year-on-year, and operating profit of 61.7 billion won, up 83% over the same period.

Shin Minsoo, a researcher at Kiwoom Securities, explained, “Both domestic growth and exports of ‘Rejuran’ are progressing evenly, which will drive continued quarter-on-quarter growth. Cosmetics are also expected to post growth of more than 60% year-on-year across all borders, further solidifying the position of the ‘Rejuran’ brand.”

Researcher Shin maintained a “Buy” investment opinion on PharmaResearch and a target price of 700,000 won.

Jung Heeryeong, a researcher at Kyobo Securities, stated in a report that day, “Domestic medical device performance has recovered compared to the previous quarter, and the sluggish domestic demand in the third quarter was proven to be affected by the medical strike. In 2026, new growth drivers are expected to lead high growth, including the start of exports to new countries such as Europe, the early stage of cosmetics growth in the United States, and additional momentum from new markets outside existing export destinations like the Middle East and South America.”

Researcher Jung added, “The stock began to rebound on expectations of export-import data for December and fourth-quarter results. With a 2026 P/E ratio of 20 times, the stock is entering a period of attractive valuation,” maintaining a “Buy” recommendation and a target price of 800,000 won.