[Click eStock] "Hugel, Solid Position Expected in Domestic Toxin Market"

NH Investment & Securities Presents 'Buy' Investment Opinion and 610,000 KRW Target Price... Closing Price on 23rd at 505,200 KRW

[Asia Economy Reporter Kum Boryeong] As Hugel is expected to solidify its position in the domestic toxin market, NH Investment & Securities has issued a 'Buy' rating on Hugel with a target price of 610,000 KRW. The target price has been significantly raised from the previous 480,000 KRW. The closing price on the 23rd was 505,200 KRW.

According to NH Investment & Securities, Hugel has recorded the number one market share in the domestic toxin market for four consecutive years. Last year, it also ranked first in the domestic filler market. With the recent final cancellation of a competitor's toxin product approval in Korea, a positive spillover effect is expected in the domestic toxin market.

The momentum in China is expected to accelerate. Noh Kwanjun, a researcher at NH Investment & Securities, stated, "On the 15th, Ipsen's 'Dysport' received approval in China, resolving uncertainties regarding the approval of imported toxins in China. Earlier this month, we completed submitting supplementary materials for 'Letivo' to the Chinese NMPA (National Medical Products Administration). We expect approval and launch of Letivo in China in the second half of the year," he explained.

Hugel's performance is expected to show gradual recovery. This year's performance is estimated at consolidated sales of 214.7 billion KRW and operating profit of 70.2 billion KRW, representing increases of 4.9% and 3% respectively compared to the previous year. Researcher Noh said, "Although the spread of COVID-19 has caused performance to fall short of the annual guidance (sales growth of 10-13% and operating profit growth of 10-15%), gradual recovery is expected in the second half with the full-scale export of cosmetics to China and the start of toxin sales in China."

This content was produced with the assistance of AI translation services.